Litecoin is outperforming the opposite main cryptocurrencies after main adoption information from MoneyGram.
LTC, the native coin of the Litecoin blockchain, is the perfect performer amongst the highest 20 cryptocurrencies by market cap within the final 24 hours. The coin has added greater than 13% to its worth, outperforming the broader market.
The rally comes after world digital peer-to-peer funds firm MoneyGram introduced that customers within the United State can now purchase, promote, and maintain Litecoin and some different cryptocurrencies, together with Bitcoin and Ether, by way of its cell app.
— Litecoin (@litecoin) November 2, 2022
Litecoin’s optimistic efficiency because the broader crypto market continues its bearish development. The crypto market has misplaced lower than 1% of its worth within the final 24 hours, with the full cryptocurrency market cap nonetheless above $1 trillion.
Bitcoin, the world’s main cryptocurrency, can be down by lower than 1% at this time and continues to commerce above the $20k help stage. Ether has maintained its place because the second-largest cryptocurrency by market cap and remains to be buying and selling above $1,500 regardless of dropping 2% of its worth up to now at this time.
Key ranges to observe
The LTC/USD 4-hour chart is bullish, as Litecoin has been performing effectively during the last 24 hours. The technical indicators present that Litecoin is outperforming Bitcoin and the opposite main cryptocurrencies.
The MACD line is above the impartial zone, indicating that Litecoin is presently in a bullish development. The 14-day relative power index of 73 reveals that Litecoin may quickly enter the overbought area.
At press time, Litecoin is buying and selling at $62.16. If the rally continues, LTC may surge previous the primary main resistance stage at $74.68 over the following 24 hours.
Nevertheless, with the help of the broader cryptocurrency market, Litecoin may commerce above the $81 resistance stage for the primary time since Could.
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