With all major cryptocurrencies showing some positive momentum once again, a lot of things are changing as we speak. The Litecoin price is preparing for another leg up, by the looks of things. With a 4.18% increase over the past 24 hours, things are certainly looking good right now. At this rate, the Litecoin price should be able to surpass US$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 volatility at times, although lately things have been evolving in a different direction. Whereas most people had hoped for a stable price and potentially even a value increase, things have not turned out that way. 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 US$58.50 and a low of around US$53. This discrepancy is not the largest by any means, although it indicates things are looking pretty stable for the Litecoin price overall. That said, daytraders have had plenty of fun flipping LTC 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 are noting much smaller gains right now, especially with Bitcoin likely 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 US$100 million 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 in the past. That said, it doesn’t necessarily predict how markets will evolve in the coming hours, days, or weeks.
With Bithumb leading all other exchanges in terms of trading volume, an interesting situation ensues. Especially considering that Bithumb values Litecoin at just over US$58 right now. HitBTC and Bitfinex round out the top three right now, which is nice to see. Whether or not we will see a major increase in the trading volume over the next few hours remains a big mystery. There is no real need for one either right now, although it would help solidify things a bit more.
For the time being, things look pretty positive for the Litecoin price, and reaching US$60 seems to only be a matter of time. Now that the LTC market capitalization is back above US$3 billion, the possibilities are virtually limitless where Litecoin is concerned. Only time will tell if any major changes can be expected in the future.
