Litecoin Price Surge can Push LTC’s Market Cap Past BCH and EOS
Not a day goes by in the cryptocurrency world without some developments taking people by surprise. This is especially true when looking at the prices for different currencies and assets. Litecoin’s price currently benefits from a brief uptrend, which puts it on track to potentially overtake both BCH and EOS in market cap.
Promising Litecoin Price Trend Resumes
Cryptocurrencies and digital assets usually see some odd trading behavior over the weekend. There is less trading volume across exchanges, yet that doesn’t mean markets can’t go up or down in spectacular fashion. In the case of Litecoin, there is a very solid uptrend forming right now. If this momentum can be sustained for a few days, the silver to Bitcoin’s gold will overtake both EOS and Bitcoin Cash in terms of market cap.
Over the past 24 hours, there has been a net 10.5% increase in Litecoin’s USD value. Because of this development, the current Litecoin price sits near $37.75, a more than respectable price point. There is also an 11.2% increase in the LTC/BTC ratio, which is perhaps worth even more to traders and speculators. It shouldn’t take much effort to push through to the 0.01 BTC level, albeit there will be some key resistance at that point.
Even though the current Litecoin price trend seems rather appealing, one has to keep the big picture in mind. As Tim de Hey points out, Litecoin’s trend might not have enough trading volume to keep this momentum going for very long. There will be a temporary retrace at some point prior to resuming the uptrend, but no one knows if and when that will happen.
$LTC broke the inverted H&S neckline. Not liking the volume at the breakthrough. Expecting a pullback to the neckline and hoping for a bounce there. #Litecoin
— Tim de Hey (@tdehey) January 6, 2019
The Original Bastard has some very interesting opinions on Litecoin as well as other top cryptocurrencies on the market today. While these opinions serve an entertainment value first and foremost, one has to wonder if there is perhaps some hidden truth to it. It is rather evident there is some growing dismay in this industry overall.
Watching the Bitcoin maxipads set up lightning nodes while Ethereum and Litecoin take turns pumping is the definition of being cucked.#Bitcoin #Litecoin #Ethereum
— The Original Bastard (@TheOGBastard) January 6, 2019
When looking at the current Litecoin value from a technical point of view, it seems rather impossible to expect a Litecoin price of $4 in the near future. While most people would have loved to buy in at that price right now, it may not necessarily be a value traders and speculators ever see again. Even so, no possible scenario should be discounted in this industry either.
When litecoin 4$?
Whennnn???#litecoin $ltc
— Up
Litecoin[LTC]{2018BearMarketSurvivor
} (@LitecoinUp) January 6, 2019
Even though all signals point toward a further Litecoin price push to $40, going on without a correction might not be entirely possible either. It is somewhat unusual to see this high trading volume for LTC on a Sunday, yet it may be an indicator of what is yet to come in the future. An exciting market for many different reasons, although predicting the future price momentum is virtually impossible.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
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by JP Buntinx via NullTX