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The price of Litecoin (LTC) touched the peak of a month on Monday in a bullish tone in the cryptocurrency market.
The seventh largest global cryptocurrency by market capitalization reached $ 68.59 at 12:10 pm UTC – its highest price since August 7, according to CoinDesk's Litecoin price index, was seen for the last time to trade at $ 68.18, about 4.2% of the day.
The recent optimism in cryptocurrency markets could be attributed to the 20% rally of bitcoins from the August minimum of $ 6,000. More importantly, the most important cryptocurrency in the world by market capitalization is on the upside, having witnessed a pennant leak as previously reported by CoinDesk.
Even the long-term picture appears rosy, courtesy of the bullish turn of the weekly MACD . As a result, LTC could soon find acceptance above the immediate resistance deployed at $ 69.00 (50 days MA).
Litecoin's market capitalization is $ 3.95 billion – the highest level since the beginning of August.
the market is also flashing green. Names like bitcoin (BTC), bitcoin cash (BCH) and EOS have seen price growth in the last 24 hours. Meanwhile, Monero (XMR) is the largest gainer in the top 10 cryptocurrencies with a price increase of over 10% since yesterday.
Disclosure : The author retains BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
Litecoin via Shutterstock; Charts through TradingView
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Leader in blockchain news, CoinDesk is a reference point that is committed to the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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