LTC Bouncing Back, Bulls Not Settling For Anything Below $55

Litecoin Bouncing Back, Bulls Not Settling For Anything Below $55

The bulls are not playing around today. Almost every altcoin is soaring, and the trend is poised to continue for the rest of the week. In the last four days, Litecoin has been surging, and the coin has climbed from below $50 to highs of $54. The bulls are gunning for the $55 position and they don’t look like they will quit until they achieve it.

LTC/USD Price Chart, Wednesday November 7th:

Litecoin is one of many coins which have in recent months experienced a dramatic fall in value. Three months ago, the coin was trading in the highs of $74. During the three months, prices have fallen, hitting lows of $48 by the end of October.

At the time of press, the coin is trading just above the $54 mark. The day has however seen it hit $55 for some time before being met by resistance. As long as the positive momentum continues to dominate the market, the bulls will continue to push prices and look for a break past the $55 mark. A break past this level could see the coin quickly surge and retest the $60 position.

Read Also: Margin Trading For Litecoin (LTC) Enabled In OKEx

On top of the positive momentum going around the market, the coin received some major positive news.

A few days ago, a new platform- Lite.IM announced that Litecoin holders could send and receive tokens through Facebook Messenger. This will see Litecoin become accessible to over 2 billion Facebook users. It will also make it easier for users to send and receive Litecoin. Registration to use this service will only require a valid email and phone number.
The introduction of this platform makes Litecoin one of the most easily accessible tokens in the market- not that it was struggling with this. Now, the coin looks more set for wider adoption and greater price gains.

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