Litecoin cryptocurrency trades up $3.96, approximately 4.93% higher this afternoon

Litecoin has rallied $3.96, or 4.93%, to now stand at $84.22.

Litecoin broke through the $81.37 resistance and climbed above it $2.85; next resistance level is at $82.75. LTC made an initial breakout above its 21 day Simple Moving Average at $83.36, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $82.05 currently serving as resistance

Overall, looking at the technical analysis landscape, it seems LTC might continue pointing upwards in the short term.

Other markets are also showing gains as Bitcoin Cash is up 17.04%. FTX Token is up 9.54% to $1.36. EOS is up 4.18%.

Litecoin has fallen back around 21.34% over the past 4 months, from a notable high of $102.04. LTC has a market cap of 6.16 billion with an average daily volume of 515.55 million.