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- The price of LTC witnessed a resurgence, shooting up by almost 30%.
- The price opened today at $70.
- The currency’s present day highest reaches $83.66.
The price of Litecoin skyrocketed by almost 30%. It was predicted that if the previous day’s price closed above $64, the price would rally, which proved true. The currency is the top gainer of the week and the last 24 hours. The price shot breaks all the previous resistances and aims higher. This surge is great news for crypto investors as it was much needed amidst the crunch the whole market is currently facing.
Here’s the victory photo
The price rallies, breaking the resistance level of $73.70 and hitting the mark above $80. The price quickly escalated from the bounds of the Bollinger bands. It also surpasses all the EMAs and continues to surge. The recorded volume also greatly appreciates the surge because it witnesses strong responses from the users.
The CMF indicator almost goes perpendicular to the 0-mark ray. It tries to match the pace with the price rally. It may continue to rise as the uptrend is here to stay. The MACD indicator diverges sharply with high-rise histograms and wide gaps between the lines. This divergence may continue with ascending histograms standing high. The RSI indicator shoots directly to the overbought zone crossing the 70 mark. It may float in the same region as the price rallies further, and the coin receives overwhelming responses from the users.
In the recent hours
The price continues to ascend and reach higher highs. The CMF indicator shoots to the 28 level and stands straight. It may continue in the same momentum respecting the surge. The MACD indicator records wider divergence and high-rising ascending histograms, signaling green. The RSI indicator continues to float in the zone beyond the 70-mark and records over purchases unceasingly. It may further move in the same bounds and try to reflect the whole of the users’ sentiments.
Conclusion
The market has transitioned to the celebrating mode as the currency rockets higher. The coin surges higher, leaving the haters in vain and supporters with gains. The currency rallies while the whole market suffers setbacks, which gives crypto enthusiasts some hope and chances for growth.
Technical levels
Support levels: $58.10 and $52
Resistance levels: $84.10 and $93.90
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
