Crypto markets in general have been in consolidation for over a week, largely waiting for Bitcoin to make its next move. Litecoin, however, has not been waiting around as it continues to surge hitting a new high for over a year.
Yesterday’s green has been followed by today’s red for Bitcoin and the majority of altcoins. The only one bucking the trend is Litecoin which continues to push higher as halving fomo intensifies. A few hours ago during early Asian trading LTC hit $140, its highest price since mid-May 2018. The move has added a further 10 percent to Litecoin over the past few hours. It has since leveled out at around $139.
Litecoin prices 24 hours – coinmarketcap.com
Market cap has now reached $8.6 billion eclipsing both Bitcoin Cash and EOS which were above LTC just a few weeks ago. Daily volume is at $5.6 billion and there seems to be no stopping the Litecoin train at the moment.
Litecoin’s Next Move?
Traders and analysts are looking towards the charts again for possible areas of resistance and profit taking opportunities. Trader ‘CryptoFibonacci’ has found some short term resistance where the Fibonacci levels line up;
“Very impressive, but running into some short term Fib extension resistance. Could still hit mid 140’s, but I expect a retrace here in the next couple of
days.” Read more