As mentioned earlier in the week, Litecoin (LTC) has seen exponential growth since the beginning of March, leading a mini bull run with a massive 40% increase in price. However, the overall markets cooled off during April following bearish news about Bitfinex being insolvent and Binance’s 7,000 BTC hack.

Now it seems that Litecoin is once again on the up following the positive movements of the rest of the market. At the time of writing, LTC is trading at around $99 after reaching a new yearly high above $105.

Although Litecoin has been underperforming recently compared to other altcoins, we shouldn’t forget LTC has been on a bull run since March – and it hasn’t stopped yet.

Since last week, LTC has gained close to 20%, which is quite an amazing achievement from a coin that was trading at around $30 in January 2019. Fundamentals remain strong as LTC’s adoption keeps rising due to small fees and faster block times.

LTC is the only coin that is bullish by the book: the 20-day EMA is above the 50-day EMA, which is above the 200-day EMA. Plus, volumes are quite high around key levels, way above $90. I see LTC support being around $89 and $73, while resistance remains around the $100 level.

About Litecoin

Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It was a fork of Bitcoin with the main difference being a smaller block generation time, increased maximum number of coins, and a different script-based algorithm.

Litecoin is one of the leading cryptocurrencies and is one of the Top 10 cryptocurrencies by market capitalisation.

More Litecoin news and information

If you want to find out more information about Litecoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:

Litecoin steps into the UFC octagon

By Nawaz Sulemanji – May 16, 2019

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

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