Litecoin (LTC) is the cryptocurrency that is in the focus of our latest digital currency news, mostly because of its recent surge which set a fresh 2019 peak. The altcoin managed to rise by more than 11% against the dollar, establishing an intraday high at $37 on a bounce from the near-term ascending trendline support.
Also known as the “digital silver” cryptocurrency, LTC was consolidating since December 27th in a strict range much like its peers across the crypto-board. The new buying sentiment followed OKEx’s launch of Ethereum and Litecoin based perpetual swaps.
Right after the launch, Litecoin attempted a rally that pushed the altcoin close to the $35 margin, after which it rose even more and reached its interim bullish target. Currently, the price action is stable.
From the technical analysis, we can see that the Litecoin price is forming a pattern structure that is defined by a triangle – with the $34.92 as the current neckline and $37,59 price point as the breakout target. Even though there are also signs of a pullback scenario and a possible correction, this could be a great opportunity for Litecoin (LTC) to lead the market and even reach the $50 margin soon, which is in every investor’s focus.
At press time, Litecoin (LTC) is trading at $36.07 with a $59.9 million market cap.
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