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Litecoin {LTC} manages to rebound beyond $61 as HODLers breathe a sigh of relief

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Litecoin is ranked at #6 to the south of Tether in the market. The trading volume recorded stands at roughly $4.552 billion, whereas the supply has 63,617,346 LTC coins in play as part of circulation. For now, the total market cap of Litecoin amounts to $4.023 billion [a value which is lesser in comparison to the reported volume]. The digital currency itself is priced at $63.25 after it rose at a rate of 1.42% in the course of the past 24-hours.

The Litecoin Summit [backed by the LTC Foundation] took place in Las Vegas, Nevada during the final week of October. Over 600 people had registered for this highly-awaited event [including Charles Hoskinson of IOHK]. In accordance with the candlestick chart connected to the LTC/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], one can determine that buyers are trying to propel $LTC towards $65. Litecoin is on the verge of escaping the elongated period of consolidation.

The daily RSI has grown to reach 62.27 which indicates that $LTC may land in the overbought territory if the bull-run continues. From 4th November onwards, the MACD line and the signal line began moving further apart, thereby causing the green histogram to blossom and appear more prominent. Similarly, post-3rd November, the peaks tied to the Awesome Oscillator all possessed the emerald shade. This points towards the ascension of bullish momentum.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.