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June 30, 2023
While today ended at $84.75, today, Litecoin rallied above $110.8 for the first time in 1 year and gained $26.05 — now trading at $110.8.
Litecoin broke through the $85.67 resistance, climbing $25.12 above it. LTC made an initial breakout above its 200 day Simple Moving Average at $86.18, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $100.18 currently serving as resistance Litecoin has just crossed its upper Bollinger Band® at $99.94, suggesting further gains could be on the cards. Despite this, first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In LTC's case, the RSI has fallen below 30, indicating the asset is oversold.
Overall, looking at the technical analysis landscape, it seems LTC might continue pointing upwards in the short term.
LTC shows positive signs, other assets are also on par: having closed the previous session at $254.07, Bitcoin Cash is up 27.1% today to currently trade at around $322.92. EOS soars 12.06% to trade around $0.759. Solana rallies 9.49% to trade around $19.76.
Litecoin reached a significant high of $102.04 around 4 months ago but has lost 16.95% since then. Litecoin has a market cap of 8.12 billion with an average daily volume of 509 million.
