• LTC/USD hit the highest level since the middle of March.
  • The coin is positioned to resume growth after a technical correction.

Litecoin (LTC) is one of the best-performing digital assets out of top-10. In the recent 24 hours, the coin has gained over 9% and hit the area above $56.00 on Monday. At the time of writing, LTC/USD is changing hands at $53.43, moving within a short-term bullish trend amid low volatility. Currently, the coin's total market value is registered at at $3.36 billion, while its average daily trading volume is $3.31 billion. 

LTC/USD: Technical picture

Litecoin's strong recovery is driven mostly by technical factors and general market sentiments. A sustainable move above 200-day SMA at $49.67 created a strong bullish impulse and pushed the price to the highest level since Markc 13. Once the price regains ground above $56.00, the upside momentum will gain traction with the next focus on 100-week SMA on approach to $60.00.

On the downside, the local support is created by 50-week SMA at $52.00. If it is broken, the sell-off may be extended to psychological $50.00 and the above-mentioned 200-day SMA at $49.67. 

LTC/USD daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

ETH/BTC skyrocketing, Bitcoin stays above $11,000

The cryptocurrency market lived through a volatile weekend as Bitcoin an all major altcoins hit new multi-month highs and crashed back in a matter of minutes. 

More Bitcoin News

ETH/USD struggles to hold the gains, bears target at $350.00

Ethereum, the second-largest digital asset, hit the new high at $415 on Sunday, August 2, and retreated to $379.70 by press time. The second-largest digital asset has gained nearly 3% since the beginning of the day, though it is still down 1% in the recent 24 hours. 

More Ethereum News

ETC/USD Price Analysis: Bounce from 100-day SMA keeps buyers hopeful above 7.0000

ETC/USD retraces from the lowest in a week to 7.2900, up 1.60% on a day, during the early Monday. In doing so, the pair takes a U-turn from 100-day SMA, which in turn again pushes in north towards ...

More Ethereum Classic News

XRP/USD climbs back above $0.3000, bulls struggle to regain control

Ripple's XRP has recovered above $0.30 after a dip to $0.2839 during early Asian hours. The coin has gained over 5% since the start of the day and 3% in the recent 24 hours.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast

BTC

ETH

XRP