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The Litecoin token has appeared as the second-highest gainer on this list of rising cryptocurrencies. At the time of reporting, it has registered a gain of 1.27%. Nevertheless, it stands as one of the top-performing coins with that level of price increase. Let’s zoom in on the market details below.
LTC Statistics
Current Price: $100.46
Market Capitalization: $7.57B
Circulating Supply: 75.86M LTC
Total Supply: 84M LTC
CoinMarketCap Rank: 21
Key Price Levels
Resistance: $110, $120, $130
Support: $95, $85, $75
Litecoin Tests the $100 Baseline
As noted earlier, Litecoin’s daily market registered only modest gains, which have helped to keep the token’s price just above a key technical level. The most recent price candle on the daily chart is a green one, keeping the price at $100.46. Although price activity remains at a notable distance above the Bollinger Bands, the bands themselves show a slight upward trajectory, suggesting a general bullish trend.
Similarly, the Moving Average Convergence Divergence (MACD) indicator lines are positioned above the equilibrium level but are now trending sideways after previously approaching a bearish crossover. Technically, this suggests that upward retracements have a reasonable chance of being sustained.
LTC Price Action Perches on a Key Technical Level
Analyzing the Litecoin market on the 4-hour chart reveals that price activity has reached what appears to be a strong and critical support level. The most recent price candle has landed right on the middle Bollinger Band. Additionally, it appears that the upper and lower Bollinger Bands are beginning to contract. With price action situated above the middle band, a stronger upward rebound may occur soon.
Likewise, the MACD lines are positioned at the equilibrium level and are merged, trending sideways. Consequently, if traders recognize the $100 mark as a strong support level, significant buying activity may follow, potentially pushing the market toward the $110 price level.
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