Litecoin LTCUSD outperforms it’s crypto peers adding over 14% at $56.67 making fresh two month highs. The gains today is the largest one-day percentage gain since January 2019. Litecoin positive momentum accelerated since the crypto pair breached above the 50-day moving average.
LTCUSD was under selling pressure during 2019 as it lost 45% of its value. But 2020 started in strong momentum as litecoin rallies since January 2nd.
Litecoin market capitalization hits 3.41 billion, the 100 top cryptocurrencies capitalization jumped today at 227.11 billion
Litecoin started the session stronger today recovering yesterday’s losses while after it broke above the 100-day moving average the LTCUSD jumped sharply higher as the rally took off in the other cryptocurrencies also. Litecoin momentum is positive now.
Crypto traders focus has now turned to higher levels. Immediate resistance stands at $57.71 the daily top. Next strong resistance for Litecoin will be met at $60 the high from November 17th. In case that Litecoin breaks above the next target for the bulls will be the 200-day moving average at $66.44.
On the downside the first support stands at $50.32 the 100-day moving average and then at $49.56 the daily low. Next support zone will be met $48 the low from January 11th. What might cancel the recent bullish momentum is a break below the 50 day moving average at $44.11.