At present has confirmed to be a really completely different day for buying and selling cryptocurrencies. Yesterday appeared to be very bullish, whereas in the present day is much more bearish for almost all of the highest markets. The Litecoin value remains to be going fairly sturdy, particularly as a result of it has lastly surpassed the $50 barrier with out too many issues.
Can the Litecoin Worth Preserve Going?
The 12 months 2019 has provided one thing very completely different for many cryptocurrencies, tokens, and digital belongings. A little bit of an intensive bull run has formed up in latest weeks, though most markets at the moment present a bearish development. Litecoin is one notable exception on this regard, because it merely continues to do its personal factor with out too many issues. A outstanding development for a forex lots of people gave up on some time in the past.
Over the previous 24 hours, the Litecoin value has proven one other bullish development which leads to a 5% acquire. Due to this sturdy exhibiting, one LTC is now priced at $50.89, which could be the high for a short while. The LTC/BTC ratio additionally stays bullish following one other 5.2% improve. With a worth of 0.0127BTC per Litecoin, every thing is trying fairly good.
Much like most different markets, Litecoin enjoys a hefty improve in total buying and selling quantity. With $1.544bn price of LTC altering palms, the demand for this altcoin seems to be real right now. Many of the quantity comes from OKEx and DigiFinex, two exchanges which primarily see traction in LTC/BTC and LTC/USDT pairs. The involvement of that stablecoin may be thought of to be an indication of potential future progress.
On the subject of holding and exchanging cryptocurrencies, completely different merchants will deploy their very own methods. Whereas some folks trade LTC to purchase ERC20 tokens, DigiHODL prefers to carry on to LTC no matter how inexperienced the grass could look elsewhere. Up to now, that technique appears to be paying off fairly effectively.
— DigiHODL (@DigiHodl) February 20, 2019
For many who are trying on the precise value chart, it rapidly turns into obvious there will probably be a really tough highway forward for Litecoin and Bitcoin alike. Though inserting a brief at 0.0129 BTC could have been a good move, the precise “drop” is just not as vital as some merchants would have anticipated. As such, it could transform a untimely plan of action.
Out of all my longs from that 4H bullish set off final evening. Closed #LTC @ 1289 and entered a brief @ 1290 #Bitmex . Watching the LTF #BTC for an early exit sign. No different orders opened till affirmation ✌ pic.twitter.com/O90kCMGkEN
— Gold & Crypto (@Gold_and_Crypto) February 20, 2019
All issues thought of, Litecoin is among the few remaining bullish high markets proper now. That in itself tells fairly an attention-grabbing story. The bearish stress affecting Bitcoin is just not making a lot of an impression on Litecoin or EOS proper now. For merchants and speculators, it will create some surprising pleasure.
Disclaimer: This isn’t buying and selling or funding recommendation. The above article is for leisure and schooling functions solely. Please do your individual analysis earlier than buying or investing into any cryptocurrency.