Litecoin sharp increase of 14.2% in the last 24 hours

  • LTC trading at the level of $ 55.70 with a gain of 14.2% and climbed to 11.59% after the Paypal news
  • The coin volume has risen 142% in the last two trading sessions to stand at $ 4,135,056,143 while the market capitalization stands at $ 3,660,120,322
  • The cryptoasset turned bullish after the overall rally in the cryptocurrency market
source: tradingview

LTC trading at the level of $ 55.70 with an increase of 14.2% in the last 24 hours, the coin that forms the rising support on the monthly chart and after the bullish momentum in the cryptocurrency market, it rises to the level of $ 55, 70. The monthly low of the coin is $ 42.54 and after testing the low the price recovery is seen on the meter as the coin has support at the $ 42.54 level and minor resistance at $ 48.48.

After clearing the minor resistance of $ 48.48, it headed another resistance of $ 51.63 and after clearing both resistance levels, the coin is trading near the $ 59.17 resistance and the strongest barrier. is $ 63.65 acts as a strong resistance for it. The support level for the cryptoasset is $ 53.18 and $ 47.65.

source: tradingview

Relative Strength Index (RSI) trading at the 82 level which is the overbought zone, after trading below the 50 level the RSI provides a single positive indicating the strength of the coin. However, it also indicates a tendency to have a sharp negative divergence.

The Commodity Channel Index (CCI) is trading at the +158 level and the indicator has given an abrupt recovery from the bearish zone and traded in extreme bullish, but its caution to investors for the steep drop.

The cryptocurrency market is now in the bull run, but it is time for the investor to hedge profits and be cautious of the bull run.

Resistance: $ 59.17 and $ 63.65

Support: $ 50.65 and $ 47.65

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