Litecoin Surged 20%, Is Another LTC Rally On The Way?

One of the biggest contemporary movers in cryptocurrency markets is Litecoin (LTC).  Litecoin has been relatively silent for some weeks, when his kin took the attention, however, today its growth to $70. Litecoin surged by 20% and this could be a major sign for a rally in the short term as we are reading more about it in the latest litecoin news.

The momentum on the cryptocurrency market is still building as another week passes. An addition of $10 billion has been added to the total market capitalization which makes a four-month-long zenith of $263 billion. Bitcoin (BTC) has snatched another percentile in an offensive above $9,500, however, the todays top mover is the smaller brother, Litecoin (LTC).

The smaller counterpart of Bitcoin (BTC) has been on a massive rise throughout the past few hours growing an awesome 20% from $58 to $70 according to Tradingview.com. Litecoin (LTC) is at this time the best performing cryptocurrency in the top 25 and the only one with double digits gains. As a consequence of the movement Litecoin (LTC) is experiencing a four-month high, and also it has broken the downward trend.
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A small pullback has brought prices back to the $68 level at the time of writing this article. Traders and analysts have been observing the movement and are watching for levels of support and resistance.
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Litecoin surged by 20 percent and after this, it will probably fall back to the support level of something above $60 before experiencing another growth cycle. Litecoin (LTC) has earned a staggering 64% this year by now, about double the percentage of Bitcoin (BTC). In 2019 it was one of the cryptocurrencies that had the best performance, concretely in the first half of the previous year. Litecoin (LTC) surged over 350% from January to June. There are certain people that observed the movements of Litecoin (LTC) comparing them to the growth of 2019.

 “#LTC had almost 5X fold in last bear to bull run from around $30 to around $130. That included halving. $LTC is the silver hope you are holding $BTC for the next halving of the gold.”

The Litecoin (LTC) halving was thought to be the catalyst for the 2019 bull run because Litecoin (LTC) led the crypto markets for a while in April and May of 2019.