The minute that things did seem a little-off with the original leading altcoins, Litecoin returns gaining with the start of the weekend touching above the $160.00 mark.
Litecoin Still Strong in the Race
After not doing much throughout the whole start of December having experienced a dip on Nov 30 towards the $75.00 level, LTC price rocketed climbing above the $160.00 mark today – Dec 9. The range bounding pattern should have been expected during the massive surge Bitcoin was experiencing as it showcased a true challenge for any altcoin not to increase – but just to hold base.
As per the moment, Litecoin is being paired with US Dollar at $159.60 with 61.89 percent upwards walk in the last 24-hours. Such a rally is hard to experience if you have cemented your position in the top-10 leading cryptocurrencies by market capitalization.
Having quite the over-extension – the pair LTC/USD could correct anytime soon around $150.00 or just over $145.00 which might mark the creation of a new stable trading ground [if traders roll back: around just a month ago Litecoin had resistances overcoming the $60.00 mark – that is how dynamic this market can be!]
However, seeing the confidence and optimistic thinking from the good start of the weekend, the surge could possibly continue even higher and test the $200.00 for the first time. Litecoin just added $3 billion to its market cap hoisting it up to $8.65 billion in a matter of hours making it a real challenger for Ripple $9.5 billion size.
The silver could be of lower value than gold, but as we remember it did its purpose very well!