The price of Litecoin (LTC) reached a maximum of one month on Monday, with a broader bullish tone in the cryptocurrency market.
The seventh largest global cryptocurrency by market capitalization reached $ 68.59 at 12:10:00 UTC – its highest price since August 7, according to CoinDesk's Litecoin Price Index – and last time it was trading at $ 68.18, around 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 world's leading cryptocurrency for market capitalization is looking for, having witnessed pennant breakout, as previously reported by CoinDesk.
Even the long-term picture is rosy, courtesy of the weekly Bullish turnaround of the MACD. As a result, LTC could soon find acceptance over 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.
Even the largest market is flashing. 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.
Revelation: The author retains BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
Litecoin via Shutterstock; Charts through TradingView