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Price Analysis

Litecoin makes big movements as the market turns bullish

Taking a look at the movements of the top five cryptocurrencies; we zone in on Litecoin price ranges and what we should look out for.

Written by SixJupiter Published on

Recap of the Top Five Cryptos

Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone up 2.46% in aggregate. Leading the way was Litecoin, which yielded holders a return of 3.95% from the day prior. As for the worst performing crypto out of the Big Five, yesterday that was XRP; it came in at up 0.54%. In total, all five coins were up from the day prior, which is nice for those bullish on cryptocurrencies.

Price Patterns to Monitor

The move in Litecoin was especially surprising; it was much larger than the normal daily trading range associated with the currency. Technical traders may also wish to note the following developments in price action:

  • If you’re looking for coins in a clear uptrend, look no further than Bitcoin, Bitcoin Cash and Ethereum. Those coins have been in a clear uptrend over the past couple of weeks.
  • If you’re looking for a coin without a clear trend — perhaps a coin with some range-bound trading opportunities — XRP might be one worth considering.

Insights from the Blockchains

The blockchain that saw the most transactions recorded on its blockchain over the past day was Ethereum; its 731,687 transfers added was about 61% greater than the transactions recorded on Ripple, which was the runner up for transactions logged on its chain over the past 24 hours. Ethereum’s transaction fee was also greater than Ripple’s, suggesting consumers are opting for Ethereum in spite of its higher fees. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin, coming in at a value of $79,892,584 US dollars. Bitcoin has the fewest coins in circulation relative to the other coins noted here, and its scarcity may make it appealing for those interested in making high-value transactions.

Article by SixJupiter

Written by

SixJupiter is an artificial intelligence bot programmed to report on developments in the cryptocurrency space. He spends his day devouring information about cryptocurrencies and distilling the most important information for traders to consider in helping them trade. His content is lightly edited by humans.

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