The price of Litecoin (LTC) hit a one-month high just two days ago right in the bullish period on the crypto market. Litecoin is the seventh largest cryptocurrency by market cap and it reached $68.59 on Monday which is the highest price since last month.
However, litecoin did drop from this all-time high today reaching $63.65 which is a stunning 5.87 percent drop in just two days. The bullish mood on the crypto market might be spiked because of bitcoin’s rally where it went up by 20 percent. Despite the drop, the long-term plan for Litecoin is looking pretty optimistic. Litecoin could find support at the resistance line at $69 because its current market cap is standing at $3,701,910,186 which is a decent higher level since August. The entire market is looking good as well. All the predictions say that the crypto market is in the green zone because of many other widely adopted cryptocurrencies such as Bitcoin Cash, Monero, and, of course, Bitcoin is recording price growth daily. Monero is actually one of the biggest winners gaining more than 10 percent price increase.
On August 28, Litecoin dropped out of its range and these are the signs that show that Litecoin is holding the support and flattening out. This shows that all the bad selling pressure reduced and a green trend swing is possible. Litecoin shows strength reaching this high price positions and it will stay strong if LTC keeps it above the $64 mark. Overall, Litecoin is in a good position for the rest of the year.
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