The momentum of the cryptocurrency market tends occasionally to come from unexpected angles. As of now, the price of Litecoin is rising sharply due to gains in both the USD and BTC departments.
If this trend continues for a while, obviously things will be very interesting. At this stage, we see that the corporate exposure creates wonders for LTC.
When people discuss the value of encrypted money, Litecoin is not a currency that most people should know about.
This is a bit strange, especially the Litecoin market all the time and now also tends to save a little bit. of momentum. In this context, today it is no different because of the strong upward trend in the last hours.
To put it in perspective, Litecoin has increased by 7% in USD and 7.5% in BTC. It seems to be a matter of time until Litecoin once again crosses the 0.01 BTC mark. It would certainly send a signal to the rest of the cryptocurrency industry. However, for the time being, maintaining the current price level of Litecoin will be a big enough challenge for big traders who will get profits sooner or later.
The main reason for Litecoin's price increase is due to the news on SFOX. Their purpose was to present Litecoin to institutional investors who show they look beyond Bitcoin and Ethereum in the encrypted world.
We announced during the Litecoin summit that we would launch LTC support on October 13th. We have already received regulatory approval to list BCH, but we have not yet announced a launch date. We will be sure to let everyone know when BCH is available for trading!
– Gemini (@Gemini) September 26, 2018
The addition of LTC trading on this platform is a very interesting decision. Bitcoin currency will complete the Bitcoin Cash and Ethereum offers. Traders can trade LTC with both Bitcoin and US dollars.
The Polish cryptocurrency dealer CryptomarketFlow is currently on the rise at the price of Litecoin. According to her, it will soon exceed 0.01 BTC. More importantly, Litecoin has the option of continuing the thrust force at 0.014 BTC or even slightly higher. This will certainly be interesting to see, even if such a change is possible, even if it is still visible.
– Emanuele Zeta (@emanuele_zeta) September 27, 2018
For the time being, it seems that Litecoin's trading volume is holding its relative ease. This should be enough to push the LTC capitalization back above $ 4 billion in the near future.
Litecoin (LTC) finally forms a strong fund
Technical indicators look great for Litecoin (LTC) at this point. The analysis of the wave trend for LTC / USD indicates that Litecoin (LTC) is due to a big break to mark the start of a new bull cycle. RSI also seems to have hit the bottom and is now on the road for a break in the coming weeks.
Litecoin (LTC) is in a good position for similar gains, because despite the disputes over the value proposition, there seems to be much interest in the encrypted currency.
It's time to go up!
Litecoin (LTC) will probably be compared to Bitcoin (BTC) for the rest of the year and could even reach the highest level of all time. The RSI for LTC / BTC seems to have hit the bottom cleanly and is now ready for the new Litecoin cycle against Bitcoin (BTC).
In the short term, Litecoin (LTC) could face the resistance against Bitcoin (BTC) for 21 weeks at EMA, but at this point Litecoin (LTC) is finally out of the forest and there is no doubt about the course of the new cycle of bull.