Litecoin market overview: LTC ignores Bitcoin and Ethereum surge
|- Litecoin range-bound amid an up trending crypto market.
- LTC/USD break above $140 could propel it to $145 and eventually $150.
LTC/USD has stayed in a tight range in spite of the major cryptocurrencies posting formidable gains. Bitcoin hit highs above $9,000 for the first time this year while Ethereum corrected above the stubborn resistance at $280.
Litecoin is trending sideways within a tight range between $130 and $140. Attempts to break above $140 have been unsuccessful on several accounts. At press time, LTC/USD is trading at $137, immediately supported by the 50 Simple Moving Average (SMA) 1-h.
A growing bullish momentum supported by the rising Relative Strength Index (RSI) above the average. Moreover, the MACD is comfortably sitting inside a positive region. Current MACD divergence suggests more correction upwards. A break above $140 will pave the way for Litecoin to prepare for another assault on $145 and then trend towards $150.
LTC/USD 1-h chart
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