At present major cryptocurrencies are trying to gain back momentum. Litecoin is one of the leading cryptocurrencies out of top-20. The coin has strong fundamentals and is likely to run a bullish price rally soon.
Till date, LTC price surged more than 380%. Even considering the recent dump to double digits, Litecoin is still up over 200% since the beginning of the year.
At the time of writing, the Litecoin price has increased by 15.21% against the USD, trading at $91.97. In term of LTC/BTC, the price surged by 12.14% trading at 0.00940987 BTC.
Currently, the coin is ranking at 4th position, holding market cap $5,768,039,259 with $4,835,797,971 24-hour volume and 62,715,262 LTC circulating supply.
According to Technical Indicators
1 hours MACD – The MACD for LTC/USD is currently placed in the bullish zone.
1 hour RSI– The RSI for LTC/USD is above 60 levels.
Litecoin price is clearly facing a strong resistance near the $95.00 and $100.00 levels. If it continues to struggle below $100.00, the bears are likely to push the price back below the $85.00 support in the near term.
However, This sudden rise in price might be due to Litecoin halving which is just 17 days away. There has already been one pump for LTC when it reached a 2019 high of $145, but many have been expecting a larger one before the block reward splitting event early next month.