The price of Litecoin is rising as the total crypto market volume increases in the last 24 hours. Michaël van de Poppe has set the next target for LTC at $80. The technical indicators on the daily LTC chart are still popular.
The value of the global crypto market has increased by 0.61% in the last 24 hours according to CoinMarketCap. This raised the total crypto market capitalization to $799.27 billion at the time of the report.
Litecoin (LTC) is the crypto that contributed to the recent increase in the global crypto market, which increased by 7.48% in the last 24 hours. The daily price range for the altcoin raised its price to $74.54 at the time of the report. As a result, the price of LTC has increased by 7.87% in the last 7 days. LTC also strengthened against the two leading crypto markets, Bitcoin (BTC) and Ethereum (ETH), by 5.71% and 5.43% respectively.
Crypto analyst, Michaël van de Poppe ( @CryptoMichNL ), shared that LTC went “according to plan” according to his previous research on the altcoin. However, the researcher said that he “could not get input.”
In a tweet yesterday, he said that there will be a quick rally back to $80 if the price of LTC breaks above the resistance level of $72, which it has. This means that the price of Litecoin is likely to target $80 in the next 48 hours. The price of LTC broke above the 9- and 20-day EMA lines, but met resistance at $78, which brought its price back to its current level.
Technical indicators on the daily Litecoin chart still suggest the existence of a bullish trend. At press time, the 9-day EMA signal has crossed the 20-day EMA signal and is currently serving as support for the LTC price.
On top of that, the daily RSI line is set above the daily RSI SMA line and is clearly descending into the overbought zone.
Follow us on social media now too!
