Litecoin up 13% Marks Weekly Growth of 17%
While Bitcoin continues to dominate the headlines thanks to the fact that it has hit a new record, it is not the only currency worth paying attention to. Its oldest fork, Litecoin, has also seen some major price advances in the last period.
Litecoin price in 2020
Litecoin’s price took part in several major rallies in 2020. The one that took place between January 1 and February 15 saw the coin jump from just $ 42 to around $ 77.
After the mid-March crash caused by COVID-19, LTC saw a brief recovery period, followed by months of mostly sideways trading. At the end of July, it saw its first serious price move that took it to $ 60, only to return to the downside in September.
Litecoin’s price reached the levels last seen in mid-2019
As of November 11, the price of LTC has started to rise once again, this time quite sharply. The coin only managed to reach $ 90 two weeks later, although it failed to break through this level. The resistance was too strong and rejected its price tag of up to $ 65.
LTC then launched another attempt to breach the resistance, reaching it once again and sent back again, this time at a support at $ 70. It reached this support around 11 December, two weeks ago.
However, a few days later, Bitcoin began its own wave that allowed it to surpass its all-time high of $ 20,000, followed by LTC. Both coins breached the resistances that kept them low, allowing BTC to climb to $ 25,000 and LTC to rise above $ 100 and even hit $ 130, a level last seen during the price surge by half. 2019.
The rise in LTC prices along with that of Bitcoin has led many to buy LTC, expecting it to continue to rise. Right now, LTC sits at $ 128.70 after seeing a 13% increase in the past 24 hours. It is also worth noting that the coin’s price has managed to grow 17.25% over the past 7 days, allowing it to climb to 5th place, with a market capitalization of $ 8.42 billion.
Litecoin (LTC) up 13% Marks Weekly Growth of 17% - /10