As the week comes to a close, the cryptocurrency market seems to have taken it upon itself to maintain a price rally. Friday even saw Cadnao take the 3rd rank from Tether with a remarkable double-digit climb. Other altcoins such as Litecoin also witnessed a steady hike over the past day.
The 12th largest cryptocurrency in the market had risen by 6 percent in the past 24 hours. Litecoin was trading for $181.47 with a market cap of $12.1 billion. A weekly hike of 27 percent had allowed the cryptocurrency’s trading volume to hit $2.38 billion.
Litecoin 1 hour:
Bitcoin Silver as Litecoin is more popularly called has enjoyed a stellar week with green candles abounding on the charts. The support has been untouched in a week as the technical indicators sided with the bull.
Litecoin’s Parabolic SAR markers stayed below the price candles, pointing to a sustained bullish momentum. LTC’s Relative Strength Index broke through the overbought zone to climb to two-week highs.
The cryptocurrency’s CMF attained new heights as the graph moved vertically from the zero lines.
Litecoin 1 day:
Litecoin’s daily support stayed below the $147 mark after populating the charts with green candles. After forming six consecutive green candles, LTC’s buy-in pressure peaked on Friday.
Long-term RSI mimicked the hourly chart by climbing above the overbought zone. The increased number of users boosted the Litecoin market to climb into the top 10 club. The cryptocurrency’s new influx of capital allowed the graph to shoot up.
The Parabolic SAR pointed to a hopeful weekend for Litecoin as the value rode on the momentum. Even new entrants into the market were experimenting with investing in altcoins predicted to be in the bull’s good books.