- Litecoin took off in tandem with Bitcoin’s strategy to $17,000 and traded a month-to-month excessive of $77.3.
- Immense help behind LTC might see the uptrend resumed in direction of $100.
Litecoin is up 50% because the lows traded on November 7. The huge rally has adopted Bitcoin’s footsteps, which achieved one other new yearly excessive of $16,895 on Monday. The bullish momentum might additionally elevate Litecoin to highs above $100 if greater help emerges.
Litecoin leads the altcoin growth
In the meantime, Litecoin is trading at $72 following a minor retreat from the latest month-to-month at $77.3. The correction may maintain if the Relative Power Index (RSI) retreats farther from the overbought. In the intervening time, the RSI has shaped a bearish divergence after hitting a better excessive inside the overbought, adopted by a decrease excessive.
BTC/USD every day chart
The bullish outlook will solely maintain if the resistance turned help between $67 and $70 stays intact. Furthermore, the 50 Easy Transferring Common is about to create a golden cross by stepping above the 100 SMA. Buying and selling above the month-to-month would enhance LTC in direction of the coveted $100.
IntoTheBlock’s IOMAP validates the bullish situation by revealing lowering resistance in direction of $80. On the flip aspect, immense behind Litecoin was supplied by the almost 42,000 addresses that had beforehand purchased about 2.6 million LTC between $68 and $70.
Litecoin Intraday Ranges
Spot price: $72.6
Relative change: -1.3
Proportion change: -1.7%
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