Over the past couple of days as a result of the Bitcoin rally, altcoin market has been surging. Litcoin was trading at high price of $208, at market capitalization of $13.92 billion. Also, the coin may be looking at a prospective drop, because, the price witnessed a surge of 4.69% overnight pushing the value by $10.
A perusal at the current chat of Litcoin, on Thursday, the value of the digital assent plummeted to as low as $190 and which latter bounced back.
Recently, at a high level litecoin has overcome any form of resistance and was at high value currently, the market has become unpredictable and is making ways for correction due to sudden surge.
The graph of the litcoin, there was a wide gap observed due to the Bollinger bands, which has diverged. It has been argued by experts that the gap noticed, was due to the unpredictability of the Litecoin market and which due to selling pressure has made the market vulnerable. The strong uptrend in value is depicted by the signal line and 50 moving average , which remained significantly at the signal line.