With all major cryptocurrencies showing some positive momentum again a lot of things are changing as we speak. The Litecoin price is preparing for another leg up, by the look of things. With a 4.18% increase over the past 24 hours, things are certainly looking pretty good right now. At this rate, the Litecoin price should be able to surpass $60 in the next few days.
Litecoin Price Starts Moving Toward $60
It has been an interesting week for all major cryptocurrencies, to say the very least. Even the Litecoin price has seen some volatile momentum all week, although things have certainly evolved in a different direction. Whereas most people had hoped for a stable price and potentially even a value increase, things have not worked out according to plan by any means. That is not necessarily a bad thing, mind you.
Over the course of the past seven days, the Litecoin price has seen a high of over $58.5 and a low of around $53. These discrepancies are not the largest by any means, although they also indicate things are looking pretty stable for the Litecoin price overall. That said, daytraders have had plenty of fun with flipping LTC and back and forth, although that momentum seems to be coming to an end as we speak.
Although things have not been set in stone by any means, it seems we may see some nice Litecoin price gains over the next few days. The past 24 hours alone have resulted in a 4.18% gain, which is pretty significant for a Sunday. Most other major cryptocurrencies note much smaller gains right now, especially with Bitcoin probably moving up a few dollars in the next few hours.
The trading volume for Litecoin isn’t helping matters much, for the time being. Just under $100m worth of volume has been recorded over the past 24 hours, which isn’t all that much. Then again, Litecoin has seen less trading volume and still noted strong gains at the same time. This specific number doesn’t necessarily predict how markets will evolve in the coming hours, days, or weeks.
With Bithumb leading all other exchanges ranked by trading volume, an interest in situation ensues. Especially when considering Bithumb values Litecoin at just over $58 right now. HitBTC and Bitfinex complete the top three right now, which is nice to see. Whether or not we will see any major increase in the trading volume over the next few hours, remains a big mystery. There is no real need for it either right now, although it would help solidify things a bit more.
For the time being, things look pretty good for the Litecoin price.Reaching $60 seems to be a matter of time, although it remains to be seen if that goal can even be achieved, to begin with. Now that the LTC market cap is back above $3bn, the possibilities are virtually limitless where Litecoin is concerned. Only time will tell if any major changes can be expected in the future.