Litecoin is taking over Bitcoin Cash and is now among the top five cryptocurrencies in the market currently trading at the main resistance price of $ 80. Litecoin is one of the oldest cryptocurrencies that has garnered a lot of attention over time and has gained credibility just like Bitcoin, Ethereum and XRP.
With the current strengthening of the LTC price, it is seen that the price trend is reaching the upper price range. In addition, the currency has gained momentum since the last month of the previous quarter, rising by up to 129% from the three-month low of USD 41 to the YTD high of USD 94.
Litecoin, which acquired Bitcoin Cash, is showing a strong bias towards a positive reaction from networkers, which resulted in a new YTD high of $ 94 a month ago. As one of the most reliable cryptos, LTC’s market capitalization has increased to a higher level.
Litecoin price analysis
TradingView’s LTC / USD chart
Today Litecoin price traded at $ 80 after pulling back from the YTD high of $ 94 with a bearish candlewick. In addition, the entire market is seen, which is in the higher price range, as the largest cryptocurrency by market capitalization is also traded over 19,000 USD with temporary drops.
Litecoin has plenty of opportunity as it is trading back at $ 80 after slipping to weekly supports below $ 65 at $ 63. The current trading price has resulted in a strict tilt towards the upper BB and the coin retains the MA50 & MA200 support due to the precisely positive sentiment on the cumulative chart.
However, the MACD chart shows a slight bearish crossover as the price shows intraday dips and spikes while the RSI stands at 53.06 after slipping slightly out of the overbought territory. For additional updates on LTC price fluctuations, simply visit our Litecoin Price Forecast.