Over the past few hours, the coin has added more than 3% to the price and is now trading at $59-60. Market capitalization of LTC reached $3.831 billion on November 4, and daily trade jumped to $3.433 billion.
In a few days, altcoin was able to recoup after falling below $50. The minimum mark was recorded on October 25, when lightcoin fell to $49.3. On October 26, the coin made a breakthrough and jumped to $62, but the rise stopped, and soon it again sat below $60.
According to an analyst who introduced himself on Twitter under the name Coingilla, we are now seeing the completion of LTC consolidation, and after that altcoin should move into a phase of strong growth. The expert did not indicate an approximate date for the resumption of the rally, but hinted that the take-off should take place soon.
Indirect evidence of the rapid strengthening of the LTC course was the increase in the activity of miners. Heshreit lightcoin began to grow in the early days of November, and now the upward trend remains. According to the BitinfoCharts service, on November 4, the LTC hash approached 180 terahesh per second (TH/s) and still continues to add.