Litecoin (LTC) Surges Higher Above $62 Anchoring The Cryptocurrency Market In Today’s Bull Run

Litecoin is informally called the digital silver and referred to as the silver to Bitcoin’s gold. Since the beginning of 2019, people have stopped asking how low will Litecoin go and have started looking for the positive Litecoin price prediction 2019. This is because the Litecoin halving, among other things, has primed the price of Litecoin for a significant surge against the USD. Already, the digital silver has moved up by over 150% within the last 4 months. In today’s Litecoin technical analysis, the Litecoin price prediction is still positive as LTC serves as an anchor that supports the Bitcoin bull run.

Litecoin Price Prediction 2019: Litecoin Technical Analysis Against The USD And Bitcoin

The cryptocurrency industry is currently in altcoin season. This is a season that typically precedes the Bitcoin bull run and is marked by a significant rise in the price of altcoins. During altcoin season, altcoins typically outperform Bitcoin. This leads to a reduction in Bitcoin’s market dominance. Today’s Litecoin price prediction 2019 shows that the digital silver is one of the anchors that is leading the bull market. This isn’t a surprise as the Litecoin technical analysis has been bullish since December.

At the time of writing, the Litecoin price was correcting lower against the USD after crossing the $62 resistance level and falling below it again. It is trading at $61.02. This means that it is down by 0.22% against the USD and down by 0.18% against BTC. The trading volume over a 24 hour period is $1,784,996,973 and the market capitalization is $3,729,196,124 per CoinMarketcap.com.

The most significant Litecoin trading volume is coming from Coineal followed by DigFinex, FCoin and Coinall. So, if you’re among those who have been asking questions like; how low will Litecoin go, will Litecoin recover or when will Litecoin recover, it’s time to relax as the Litecoin price prediction 2019 is already bullish. Litecoin has already started recovering and has been predicted to be higher than $650 before the Litecoin halving.

Right now, Litecoin has found support at $54.57. It is crucial that it stays above this level for the Litecoin price prediction 2019 to remain positive against the USD. The relative strength index of Litecoin is currently in the bearish territory short-term but this doesn’t mean the Litecoin technical analysis today is bearish.

Litecoin Prediction 2019: Why is Litecoin Rising?

Apart from the obvious reason behind the positive Litecoin price prediction 2019 which is the upcoming Litecoin halving, there are other reasons why Litecoin is rising. The Litecoin cryptocurrency news has been positive for months now. The Litecoin Foundation has made a lot of progress in securing partnerships and making the Litecoin network better.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$196.43

One of the most significant improvements that would change the game for Litecoin is the privacy protocol update. With this update, Litecoin will become a privacy coin. This isn’t just going to drive adoption but it will also help the price of Litecoin surge against the USD and maintain relative stability. The next few trading sessions will determine if the price action of Litecoin (LTC) will change.

What do you think about the Litecoin price prediction 2019 and the Litecoin technical analysis today? Will Litecoin recover? Feel free to share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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