Litecoin is an old and trusted name when it comes to the world of cryptocurrencies. The digital silver of the crypto-world has been one of the most popular, stable names in the markets. Litecoin has gone through a number of ups and downs over the past 3 months. While late-2017 was the boom phase – the currency has been falling in a downward spiral over the next few months.
Litecoin, which boomed in February 2018 despite the markets being in a bloodbath phase is back in the doldrums as the uptrend reversed after LitePay and Litecoin Cash both flopped. However, at a time when it seemed that Litecoin was destined for a major crash, even possibly hitting $90 to $65 levels – the cryptocurrency markets finally started off on a major bullish momentum.
Litecoin prices, over the past 24 hours, surged from $126 to $129 – a growth of almost 2% over the period. Litecoin’s market cap has also shot up from $7.0 Billion to $7.24 Billion, surging by $240 Million over the day. Litecoin had a slow start when the price boom started off but the currency eventually made up for it.
The week-long performance of Litecoin has been even more impressive as the currency’s market cap boomed from $6.5 Billion to $7.24 Billion over the week. However, even through the boom-phase, the price did drop to $113 momentarily, which was the lowest point of the week for Litecoin. The currency started off the week at a price of $117 and closed at $129!
Litecoin prices, as per market experts, are all set to boom even more – though the pace would be glacial – as it has been in the past. The next major target for Litecoin price is that of $138-$142, following which it would easily cross the $150 mark before meeting a major resistance. Investors are advised to set their stop-losses and targets accordingly.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.