LITECOIN is on the upturn this morning, with prices across the entire crypto-market soaring into the black. But why is LTC rising and will it proceed?
Litecoin price news: Is Litecoin price tide turning? Why is LTC rising today?
Litecoin emerges from a turgid week of crypto-trading spil a winner, finding itself a Trio.56 procent boost this morning.
Trading is presently at $124.22 spil of writing, marking a bullish trend overheen latest charts.
Te the daily chart, the price of Litecoin is ter the range-bound movement. Prices fell from $117 to its low at $110 and rose again to $116 before commencing its range roped movement.
The RSI period 14 is level 46 which indicates that the price is ter the range-bound zone.
LTC is likely to consolidate at $120 before its eventual breakout ter favor of the bulls.
Why is Litecoin thriving?
Many a crypto-coin before Litecoin has entered battle with the bears, and many will go after.
Last week, the bears took a chunk out of the crypto-market, cutting off more than $Ten billion te market value across the very first quarter.
Yet the tide of battle emerges to be turning spil the plucky token hammers resistance.
Despite early-investor concerns, Litecoin has emerged spil one of the best performing coins ter the market, hammering the best of the surplus.
Why is Litecoin flourishing today?
What is the price of Litecoin today?
Litecoin has rocketed te popularity due to its speedy transaction process.
Swifter transactions make cheaper transactions, and investors have flocked to pick up the coin.
The average LTC transaction cost is a mere $0.Nineteen, almost nine times cheaper than Crpyto-behemoth bitcoin.
The process takes less than two minutes, bitcoin takes more than four times that time to loom your transaction.
No verrassing then, that investors like the speed.
Litecoin isn&rsquo,t without its pitfalls, however.
The coin wasgoed rocked last week with the news that fresh transaction software, LitePay, wasgoed to cease all trading almost six days after its official launch.
There has also bot a loterijlot of talk about Litecoin being adopted for the darknet following the latest questions about the legitimacy of the privacy-focused Monero.
The tale goes ever-on, and it is difficult to see where Litecoin will progress. But, spil the fable tells us, the turtle strikes the hare, and, despite Litecoin&rsquo,s speed, it has leisurely bot gaining ground on the big players.