The silver to Bitcoin’s gold has has a hard time the past few months with its prices reaching significant lows. Some in the cryptocurrency industry even believe it’s game over for Litecoin. If you’re considering selling off your Litecoin tokens, don’t. In fact, this is the best time to increase your stock. According to the announcement made by TD Ameritrade, Litecoin will be entering the futures market soon and this will prepare it for a significant boost in price. This will give Litecoin more exposure and everyone knows that exposure and price boost often accompany one another in the cryptocurrency industry. It will also increase the usage of the coin.
Litecoin (LTC) Price Today – LTC / USD
The exchange platform, TD Ameritrade has more than eleven million active users with rights to trade Bitcoin futures on the Chicago Board Exchange. If Litecoin should penetrate this market, there will be a significant rise in adoption and price. Litecoin will not just be benefiting from TD Ameritrade. It will also be benefiting from the collaboration between TD Ameritrade and ErisX.
ErisX is a digital currency exchange that is regulated in futures and spot trades. The collaboration may become the next big thing that will attract institutional investors to the industry. Adding Litecoin to the mix will lead to stability and subsequent rise in price. However, this isn’t going to happen this year. Investors will have to wait a while as ErisX is scheduled to start trading during the first quarter of next year. Futures trading will come much later in the year. Investors are hoping that including Litecoin and Ethereum in the Futures market will have a ripple effect of the cryptocurrency market as a whole.
Litecoin (LTC) Price Analysis
Main while, the current price of Litecoin is rather bullish even if it is trading in range between $20 and $70. As it has been for a few months. Within the last seven days, Litecoin has fallen by 5%. The significant support is currently at $50. Litecoin could either fall below this level or rise towards the resistance at $70. Rising to this level will lead to another upsurge in price that will drive it to the $90 and even $110 level.
Today, the price of Litecoin is still ranging. It is currently trading at $58.69. This shows that it is up by 1.49% against the USD and 0.86% against Bitcoin. It is trading in green and this is a good thing for the coin. If it keeps trading in green this weekend, the new week might be marked with a bullish reversal.