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Litecoin {LTC} outperforms Bitcoin {BTC}; brings in hope for altcoin HODLers

Bitcoin

Litecoin is ranked at #5 in the market to the south of Bitcoin Cash. The trading volume recorded is $2.978 billion, whereas the supply has 63,206,899 LTC coins involved. The total market cap of Litecoin is $4.471 billion as of this moment. The price surged at a rate of 8.70% in the course of the past 24-hours, which finally lead to the price rising above $70 [for now, it is at $70.75].

According to the data obtained from the LTC/USD chart on tradingview, Litecoin may soon reach overbought territory if the price keeps climbing. The 4-hourly RSI is at 66.18 at present. The final 3 peaks for the Awesome Oscillator have been green and stayed to the north of the zero line. Resistance may impact the flow of the coin close to the $71.70 mark.

Support lies near $64. The MACD line has also begun soaring above the signal line since a day back. Thus, the histogram has changed its shade from red to green.

The Bitcoin dominance rate has dropped to 70.1% today. This can be attributed to the brilliant boost exhibited by most altcoins. Although a few like Metaverse ETP, Aurora, and REN remain in the red zone. This has led to some guessing that the altseason has finally begun to kick-in.

We hope that LTC reaches $80 by the end of next week.

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.