Analysts Backs Litecoin To Hit $200 In The Coming Days

Over the past few weeks, it looked like the entire crypto market was focused on Bitcoin and the heights that the leading digital asset would reach. While Bitcoin was busy making investors smile and Ethereum was making its move in the crypto market, Litecoin was also making several intense surges.

While other digital assets were also involved in the bullish run, with most of them bringing in the bullish momentum from last year, Ethereum was arguably in the lead in this regard. Presently, Ethereum has destroyed the $1,000 resistance figure, with the digital asset still making promising moves in the market.

Litecoin presently trading above the $150 price mark

While Ethereum showed the most promise amongst altcoins, Litecoin easily displaced other digital assets in the market to finish the day behind Ethereum. Today marks the second straight day that Litecoin would be raking in huge profits with the digital assets, previously achieving that feat two days ago when it turned in a profit of 8.3%. Presently, Litecoin is moving around the $159 region, with the digital asset seeing a daily trading volume of $17,940,429,126. In the last day, Litecoin has recorded a surge of about 13.17%.

Litecoin is not only witnessing a massive boost in the price department as the digital asset has also moved to fourth of the market cap list boasting a total market cap of about $10,550,319,919. On its way to register this current price of above $159, Litecoin was brutal in the face of several resistance figures as the digital asset broke above the $135 and $150 price region. With the digital asset now safely above the $160 price region, it is now setting its sights on the $170 price mark. If another Litecoin bullish run should occur in the market, the coin could break above the $172 price mark and rest close to the $175 price region.

Experts say the latest support level is around $400

If Litecoin will experience a healthy price correction, it would rest on the previous resistance figure of $150. The bulls are presently working in favor of Litecoin, with the digital asset hoping to emulate this bullish run in the next trading session. Experts have said that the market activity would determine the next price movement of the digital asset. The more the market activity, the more the surge in the price of the digital asset.

According to a famous analyst, Trader Travis, if Litecoin should make a surge in the market, it would hope to test several vital levels up to the $320 price mark. The major key level is also set around $140, with the digital asset hoping to reach around $200 in the coming days. While the reasons given by Trader Travis is understandable, other traders and experts in the market are also of the view that the digital market will touch $200 in the next few days.