Litecoin Breaks $50 mark, bounced up by 2.73% and Continues to make a strong resistance

Litecoin Breaks $50 mark, bounced up by 2.73% and Continues to make a strong resistance

Litecoin has recorded slightly impressive gains over the last 24 hrs. The world’s seventh largest cryptocurrency according to data by coinmarketcap, which had been hanging behind the $50 mark for the past three days has made a slow and steady rebound in a course of 24hrs.

The token was able to slightly move up by $2.78% which kept it trading at a $50.40, a reassuring climb that may have kept traders thinking the token would defy the bearish market until it fell a little close to the $50 mark again, but this time maintaining its new position slightly above its former trading price for the last three days to hang at $50.10.

While this is not a very reassuring position for LTC traders, the token still makes a statement and bounces back upward to $50.16 and swiftly moves up to $50.22 in a few minutes, at the moment of writing.

Noting the state at which the token was able to gather its 2.78%, it may take the next 24hrs for Litecoin to make its next significant peak; above $50 or below it? The next 24hrs will tell.

For now, the coin seems to be crawling up steadily, amidst slight losses.
Considering its trading of 3.6 bln, and the increase if investment fund this year, Litecoin has been predicted by both traders and cryptocurrency “experts” to round up with a total price of $600.

Against its current trading price of $50, the token will need a good $450 price increase, an unlikely possibility even if the coin crosses its $50 standpoint.


Litecoin had a very impressive run in 2017 as it skedaddled far away from its 2017 January price of $4.05 to a remarkable $43.26 in June 2017 and continued to waver heavier storms in 2018 as it moved by more than 50% to stay up at $180 in January until its fall back to $50.

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.