Yesterday was a complete roller-coaster of emotions when it comes to cryptocurrency prices. The bulls and the bears were all staying within the $88 and $92 price ranges, but the price did not manage to break any of the resistance points.
The bulls were hoping for the price to reach an all-time high for this quarter by surpassing the $96 mark, but it quickly dipped back to $90 currently according to coinmarketcap.
Unfortunately, there is nothing special to say about the Litecoin price at the moment, as comparing it to the rest of the Top 10 charts leaves a sour taste in the mouth. Nearly every major cryptocurrency has shot up within the last couple of hours, while Litecoin is continuing to struggle against the $91 mark.
It is expected that by the end of the day, Litecoin will indeed manage to catch up with the rest and surpass even the $95 mark, but that is something a bull would say.
However, the bullish expectations can be trumped very easily by the bitcoin bandwagon. It has had its fair share of upward spirals, followed up by XRP‘s nearly vertical increase. But what goes up must come down, therefore the bears may overwhelm the bulls today.
Overall, it is not expected that Litecoin will drop below the $88 mark by the end of today. One price point that the traders need to keep an eye on is the $89 mark. If the price is able to remain within the $89 – $91 margin, it is likely to survive the night. If it dips below $89, there is no telling when it could be stopped.