Litecoin has seen some incredibly bullish price action over the past week, with the cryptocurrency rallying from seven-day lows of $53 to highs of $70. Although LTC faced some resistance at this level, its market structure is clearly growing increasingly bullish.
After setting these fresh 2020 highs of $70 yesterday, the cryptocurrency has only retraced slightly, which comes as the aggregated crypto markets are facing a steep ongoing selloff.
In the near-term, it does appear that Litecoin is on the cusp of closing above a key technical level that could catalyze its next major bull movement, which means the coming few days could elucidate its mid-term trend.
Litecoin Hovers Just Below Year-to-Date Highs as Crypto Markets Face Steep Selloff
At the time of writing, Litecoin is trading up nearly 5% at its current price of $67, which marks a climb from daily lows of $63, and a slight decline from highs of just under $70.
Currently, LTC is one of the only major altcoins that is trading up over a 24-hour period, signaling that it currently has greater technical strength than many alternative digital assets. Read More...