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The price of Litecoin [LTC] saw a sharp rise at the start of today, with 8% in the last 24 hours. This happens after the currency has rebounded between $ 55 and $ 65 during the last week.
The price increased 6% in the last hour, as it saw a price increase from $ 57 to $ 63 in that period. It started the last week with a strong hike from $ 54 to $ 56 on September 20th.
Litecoin price chart of 7 days | Source: CoinMarketCap
He proceeded to see another excursion the next day, from $ 57 to $ 61. He dropped back to $ 57, testing the support level on September 22nd.
Then, he saw a slow hike to his weekly high of $ 63, where he stayed for a few hours before seeing a heavy correction at $ 75.75 on September 23rd. This decline persists until the next support level, $ 57 on September 24th. He then proceeded to discontinue the support and fall further to $ 55 on 25 September.
Proceeding to the abrupt correction seen after the hike to $ 63, the coin saw a slow excursion as it found the underlying price. He saw an excursion to almost $ 60 on Septemeber 26th before staying without fuel and going back down to $ 57, where he stayed until the next day.
At the start of today, the currency again saw a vertical peak at $ 63. The signs of a correction are not yet visible.
Iarius Germund, a market analyst, said:
"While the price has seen extremely volatile movements, it seems to be decoupling Bitcoin growth, which is an interesting phenomenon and could be indicative of a future division between the uses of Bitcoin and Litecoin."
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