Litecoin price touches 3-year high as network activity spikes

2021-2-11 14:39

LTC/USD rose to $195 before sellers pushed it to $180

Litecoin is among several altcoins that have shone as Bitcoin has retreated from its recent all-time high. The cryptocurrency mirrored other big gainers such as Binance Coin, Cardano, and ChainLink in moving higher.

LTC price moved to highs of $195 on Wednesday before correcting the gains amid a lull in the broader market. The move represented Litecoin’s highest price level in nearly three years. The last time LTC/USD exchanged hands at the $195 level was in March 2018.

Litecoin price spiked amid network growth

At the time of writing, LTC trades at $186. It is about 3 % lower on its 24-hour opening price, but still more than 22% up over the past seven days.

This uptick in Litecoin’s price coincides with a spike in network activity, according to data shared by on-chain analytics platform Glassnode. As per the firm, active addresses have jumped to 231,973, a new high that represents the biggest growth since 5 June 2020.

There has also been a spike in new addresses, with this rising to 101,862 for its highest count since April 2019. The increase in new addresses is a key metric that suggests more investors have joined the network and are adding to the buy-side momentum.

Litecoin chart showing increase in new addresses. Source: Glassnode

Litecoin price outlook LTC/USD

Litecoin (LTC) failed to sustain the momentum after touching the multi-year high of $195, as the previous candlestick shows. Aggression on the part of the bears appears to have fizzled out, with bulls seemingly energised after buying the dip.

Currently, extending gains above the resistance level at $186 is the main goal for bulls. That would allow them to retest 10 February intraday highs. If sellers’ stubbornness breaks, upward action will likely shoot LTC/USD past $200 and see it settle above $220.

LTC/USD daily chart. Source: TradingView

The MACD and RSI indicators give bulls the upper hand and prices above $250 offer a legitimate short term target.

Bears are, however, likely to stage another vigorous sell-off if prices reach the above levels.

If bulls fail to keep LTC/USD above $185, increased profit booking could accelerate a retreat towards the 20-day exponential moving average. The EMA offers a buffer zone at $155.

Failure to consolidate above the price level could leave a horizontal support line at $130 as the main anchor. A breakdown beyond this support line could tip LTC/USD towards $100.

The post Litecoin price touches 3-year high as network activity spikes appeared first on Coin Journal.

origin »

Litecoin (LTC) на Currencies.ru

$ 103.7 (-0.75%)
Объем 24H $535.186m
Изменеия 24h: 5.91 %, 7d: -5.20 %
Cегодня L: $97.88 - H: $104.49
Капитализация $7.816b Rank 25
Цена в час новости $ 187.99 (-44.84%)

litecoin network spikes activity high touches 3-year

Источник: coinjournal.net

litecoin network → Результатов: 126


A More Seamless, Cheaper, and More Secure Transaction On The Litecoin Network Is Underway – Charlie Lee

Litecoin founder Charlie Lee has promised the cryptocurrency community a more seamless, cheaper and more secure transfer and transaction on its network as revealed through a twitter post. The innovation will be achieved through the use of lightning network and atomic swap to make Litecoin more useful for a transaction.

2018-8-15 00:09


Чарли Ли: Litecoin может дополнить Lightning Network биткоина

Создатель Litecoin (LTC) Чарли Ли уверен, что его криптовалюта станет отличным дополнением Lightning Network, а сама технология может вскоре стать децентрализованной биржей. Litecoin will also be the easiest onramp onto the Lightning Network.

2018-7-13 08:44


Чарли Ли: Litecoin может стать ключевым элементом в сети Bitcoin Lightning Network

Основатель Litecoin (LTC) Чарли Ли не скрывает своего энтузиазма по поводу сети Lightning Network и роли Litecoin в ней, сообщает Cryptovest. Недавно он написал в твиттере, что узлы Litecoin могут быть подходящим дополнением, а Lightning Network (LN) может перерасти в децентрализованную биржу: Litecoin will also be the easiest onramp onto the Lightning Network.

2018-7-13 18:19


Western Union files new patent with reference to Bitcoin [BTC] and Litecoin [LTC]

On 5th July, Western Union Company, an American Financial Services and Communication company filed a new patent with the US Patent and Trademark Office. The patent aims at ‘receiving and handling secure transfers’ in the electronic transfer network space which includes the transfer of cryptocurrency or digital currency from one device to another from different […]

2018-7-7 22:59


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Litecoin's active address surge: What it means for its price trend

LTC has seen declines after its spike in November.  It has managed to stay above critical levels despite the declines. Litecoin (LTC) saw a breather in the last trading session, finally seeThe post Litecoin's active address surge: What it means for its price trend appeared first on AMBCrypto.

Why LTC, HBAR crypto ETFs can debut before SOL, XRP - Analysts explain

Bloomberg analysts predicted Litecoin and Hedera ETFs could launch before Solana and XRP. Delays in Solana and XRP ETFs highlight regulatory challenges and the impact of upcoming SEC leadershipThe post Why LTC, HBAR crypto ETFs can debut before SOL, XRP - Analysts explain appeared first on AMBCrypto.

Litecoin’s bull run: 80% of investors in profit - Is a sell-off coming?

Litecoin showcased an impressive 40% price rise last week.  Selling pressure was rising, which can halt LTC’s bull rally.  Litecoin [LTC] has been on a gaining spree as it registered douThe post Litecoin’s bull run: 80% of investors in profit - Is a sell-off coming? appeared first on AMBCrypto.

Litecoin set to mimic XRP's price surge? THIS data suggests...

Analysts have drawn striking parallels between LTC and XRP, fueling speculation of a potential breakout. Investor activity also supports this outlook, with the average balance of LTC-holding adThe post Litecoin set to mimic XRP's price surge? THIS data suggests... appeared first on AMBCrypto.

Assessing if Litecoin is on the verge of a breakout amid this bull run

Litecoin saw a strong bullish resurgence amid the recent market rally. The current momentum and positive derivatives data suggest buyers can still push higher, but a close above the immediate rThe post Assessing if Litecoin is on the verge of a breakout amid this bull run appeared first on AMBCrypto.