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Trading activity in the Litecoin daily market has gained massive upside traction. This is evident as the coin posted a price increase of 8.81% as of the time of writing. With such a notable price increase, this market now trades above thresholds that hint at possible further price increases subsequently.
LTC Statistics:
Litecoin Current Price: $120.98
Market Capitalization: $9.02B
Circulating Supply: 75.51M LTC
Total Supply: 84M LTC
CoinMarketCap Rank: 18
Key Price Levels:
Resistance: $130, $140, $150
Support: $120, $110, $100
LTC Sees a Bullish Breakout
Price action in the Litecoin daily market has exploded in the upside direction. This has caused the price of this token to pop through multiple resistance levels in a single session.
Currently, Litecoin now trades above all the Moving Average (MA) lines on the chart. Likewise, the Stochastic Relative Strength Index (RSI) lines can be seen rising out of the oversold region in a steady manner. This aligns to suggest that the market may head further upwards.
Litecoin Market Is Securing Higher Targets
The Litecoin market on the 4-hour chart remains on an upward path. Meanwhile, it can be seen that buying activity continues to dominate the ongoing session. Price activity here has also surpassed all the MA lines on the chart.
At the same time, the Stochastic RSI is trending sideways after merging near the 100 mark of the indicator. Technically, this points to bullish persistence, seeing that the RSI lines are dragging sideways near the 100 threshold. Therefore, traders can still target price regions below the $125 price mark.
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