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Saturday, September 18, 2021

Litecoin [LTC] edges close to its three year high of $375

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While Bitcoin [BTC] brought down several assets, a few others rebelled and were seen traversing with the bull. Litecoin [LTC], Chainlink [LINK], and Bitcoin Cash [BCH] were all in high spirits. Dogecoin [DOGE] was, however, the star of the show. Not only did the coin climb up the crypto ladder but also recorded a significant rise in its price. Just as DOGE was aiming for $1 with a 42% rise in the last 24-hours, BTC was still stuck at $55K.

Despite being one of the earliest cryptocurrencies, Litecoin [LTC] remained below several currencies that entered the industry much later. The altcoin currently stands as the tenth-largest cryptocurrency with a market cap of $22 billion. Uniswap [UNI] wasn’t too far ahead giving LTC another chance to surge to the ninth position.

At the time of writing, LTC was trading for $342 with an 8% surge in the last 24-hours. The last seven days did aid in the asset’s recent price soar as it bagged gains worth 30.15%. The altcoin wasn’t too far from its all-time high of $375.29 that it achieved about three years ago.

Litecoin [LTC] One-Day Price Chart On Binance

Litecoin

The one-day price chart of Litecoin [LTC] noted immense bullishness. The MACD line had taken over the signal line and went on to form a bullish crossover. This change was noted at the beginning of the month as the end of April was bleak for the altcoin. The Chaikin Money Flow indicator remained over the zero median, residing in the bullish arena.

The Bollinger Bands indicator pointed out limited volatility, however, the bands were seen diverging.

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The Money Flow Index indicator used in the one-day chart revealed a buyers’ sentiment, The Relative Strength Index indicator announced that LTC was being overbought as the marker was seen aiming for 80 median.

The persistence of this bullishness could help the altcoin reach its all-time high of $375.

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