- Is it a happy Monday in the encrypted currencies market or did Santa Claus arrive early?
- Litecoin leads the recovery with double-digit earnings.
Litecoin was the market leader today with gains of more than 11% on Monday. In fact, is it a happy Monday in the crypto currency market or did Santa Claus arrive early? The entire market saw a noticeable recovery after falling below $ 100 billion last week. At the time of writing, the market stood at $ 109 billion.
Litecoin traded intraday lows of $ 25.54 while on the upside, the stock traded the intraday highs of $ 29.16. In the last few declines, LTC / USD broke below the support range at $ 23 – $ 25.00. In addition, the resource stood at a minimum of $ 22.57 before beginning the current recovery in the last weekend.
The rebound from the aforementioned level surpassed the support that made the resistance at $ 25.00 paving the way for growth above simple hourly moving averages (both the 50 SMA and the 100 SMA). Sunday trading remained trivial and sideways but still supported by the trend line (see chart).
The cryptocurrency market has increased on Monday as assets have increased significant gains. The bulls are back for revenge after being beaten for more than four weeks. Litecoin leads the recovery with double-digit earnings. The crypt is testing the resistance at 29.00 with $ 30.00 of intuition. The technical indicators on the chart show that the price will continue to correct higher in the next few hours. RSI is currently in overbought regions while the MACD is heading up towards 1.00.
LTC / USD Chart 15 & # 39;
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