As the market turned bullish, Litecoin [LTC] managed to trade above a crucial level and things can get even better.
A metric suggested that LTC was overvalued, indicating a price correction.managed to trade above a crucial level. Will this development allow LTC to begin its journey towards $100? Let’s have a closer look at the coin’s state to find out whether that’s possible.Litecoin bulls were having a good time in the market as the coin’s price increased by over 3% last week. The bullish trend continued in the last 24 hours because the coin witnessed yet another 3% surge in its value.
At the time of writing, LTC was trading at $65.58 with a market capitalization of over $4.9 billion, making it the 19th largest crypto.. However, the trend might change as the coin managed to test a crucial support level.revealing that LTC’s successful test of the support could result in a price rebound. In fact, a price rebound could allow LTC to move towards the resistance of $100 in the coming days or weeks.Glassnode’s data also pointed out a similar possibility.
However, the Money Flow Index turned in buyers’ favor as it moved up, giving hope for a continued price increase.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Litecoin’s price rally may finally begin IF LTC holds above this level!Litecoin (LTC), at press time, was standing at a crossroads, trying to break above the key resistance trendline around $63. This means...
Read more »
Litecoin: 2 key factors that will determine LTC’s short-term fateGood tidings for Litecoin as its hash rate soared to new coins and it emerges that institutional investment is growing.
Read more »
Litecoin’s buying activity rises – Will this help LTC climb to $80?Litecoin has been on a steady uptrend since early August with a potential bullish SMA crossover hinting at further gains.
Read more »
Whales help Litecoin surge 10.32% – Will LTC rally another 40%?Litecoin surges by 10.32% on weekly charts as analysts eye a 40% rally. Also, whale transactions hit $17.3 billion over the past seven days.
Read more »
What are Litecoin HODLers up to as LTC remains bearish?Litecoin appears to be stuck in a rut characterized by low interest in the coin. However, data indicates a shift towards HODLing that could...
Read more »
Pullix (PLX) outshines crypto heavyweights like Polygon (MATIC) and Litecoin (LTC)While Polygon and Litecoin are worth buying investing in Pullix before the launch of the trading platform might be one of the best investments
Read more »