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Litecoin {LTC} rebounds slightly; volume on Bakkt soars in the wake of bear-run

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According to the candlestick chart connected to the LTC/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], this digital currency hasn’t been impacted by sellers till now. The final peak tied to the Awesome Oscillator possessed the brown shade, which serves as an indicator for bearish momentum. In the aftermath of 6th November, the gap between the MACD line and the signal line shrunk, which led to the green histogram adopting a faded appearance.

The daily RSI [for 14 periods] recorded parabolic movement over the span of 3 days and sits at 55.92. This signifies that Litecoin is prancing through the neutral territory. Resistance may play a role once LTC climbs towards $64.4, and support can be found near the $58.88 mark.

Litecoin is ranked at #6 in the market and is one of the few projects amongst the top 10 coins to still remain under bullish influence. The price shot up at a rate of 1.11% in the course of the past 24-hours. This prompted LTC to head all the way up to the $61.54 mark where it presently rests. The trading volume recorded stands at roughly $3.168 billion, whereas the supply has 63,641,171 LTC coins in play for now. The total market cap of Litecoin amounts to $3.916 billion.

Bakkt was launched a few weeks back this year. The release of this ICE-backed custody service was postponed due to the presence of regulatory uncertainty. Some believe that Bitcoin’s losses are directly proportional to volume surging on Bakkt. Check this out, ladies and gentlemen:

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.