Litecoin is outperforming the opposite main cryptocurrencies thus far at the moment and is up by greater than 7% within the final 24 hours.
LTC, the native coin of the Litecoin blockchain, is up by greater than 7% within the final 24 hours. The coin is at the moment the very best performer amongst the highest 100 cryptocurrencies by market cap. At press time, the price of Litecoin stands at $62.15.
There isn’t a catalyst behind LTC’s ongoing optimistic efficiency. The rally comes because the broader crypto market embarks on its restoration after underperforming within the final two days.
The entire cryptocurrency market cap stands above $835 billion, up by lower than 1% within the final 24 hours. This latest cryptocurrency news comes as Bitcoin makes an attempt to maneuver previous the $17k resistance degree after rising by roughly 2% at the moment. Ether at the moment stands at $1,218, up by greater than 1% within the earlier 24 hours.
Key ranges to look at
The LTC/USD 4-hour chart is bullish, as Litecoin has been performing effectively during the last 24 hours. The technical indicators present that LTC is outperforming the broader cryptocurrency market.
The MACD line crossed into the optimistic zone a number of hours in the past, indicating that the bulls have regained management of the Litecoin market.
The 14-day relative power index stands at 61. If the optimistic efficiency continues, LTC may enter the overbought area over the following few hours or days.
If the bullish momentum continues, LTC may transfer previous the primary main resistance degree at $69.04 earlier than the top of the day.
Within the occasion of an prolonged bullish efficiency, Litecoin may surpass the $75 resistance degree for the primary time this month. Nevertheless, it could want the help of the broader crypto market to succeed in that degree.
The market just isn’t utterly bullish, which suggests the bears may nonetheless regain management. If that occurs, LTC may slip under the $57 help degree over the weekend.
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