Home Crypto News Litecoin price spikes 4.5% to lead to an altcoin surge

Litecoin price spikes 4.5% to lead to an altcoin surge

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Litecoin is buying and selling at round $64.56, up practically 4.5% up to now 24 hours, as Bitcoin and Ethereum struggled to climb

Litecoin is one of the best performing high 10 digital asset on the time of writing, with the cryptocurrency’s price surging by practically 4.5% in the previous couple of hours.

As per CoinMarketCap, the coin is now the seventh largest cryptocurrency with a market cap of $4.17 billion, surpassing Bitcoin SV and inching nearer to Bitcoin Cash.

This is spectacular for Litecoin, which has to this point stayed beneath $50 for an prolonged time period; solely rallying to present price ranges after Bitcoin soared previous $10,500 to set up robust help close to $11,500.

LTC/USD each day price chart. Source: TradingView

A rally within the subsequent few classes may see the asset break above $70.00 for the primary time since February 2020.

Other cash publish greater good points

Both BTC/USD and ETH/USD pairs are seeing lower than 1% upsides (-0.09% and 0.11%) as of writing. ChainLink, Tezos, and Bitcoin SV have additionally struggled through the Asian buying and selling session. However, TRON, Stellar, 0x and Neo are all posting greater good points among the many high 30 cryptocurrencies by market cap.

A rally by a lot of the smaller cash is the explanation for Bitcoin dominance shrinking additional to 58.4%.

Cryptocurrency market. Source: Coin360

Litecoin to surge towards Bitcoin

According to one analyst, the price of Litecoin is probably going to see a significant uptick over the following few weeks. The dealer shared this chart that exhibits the cryptocurrency has the potential to acquire massively towards Bitcoin due to varied alerts which have lately shaped on the each day charts:

Litecoin price presently developments above a pivotal downtrend that has lasted properly over a yr; the coin’s buying and selling on growing purchase quantity and is breaching a key demand zone that would see it crack resistance after resistance to publish between 45% and 175% in good points.

Litecoin trades above the downtrend towards Bitcoin. Source: Twitter

Litecoin is exchanging fingers round $64.56 and appears to prolong the good points through the subsequent buying and selling classes.

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