- LTC’s price is up as the total crypto market cap rises over the last 24 hours.
- Michaël van de Poppe has set LTC’s next target at $80.
- Technical indicators on LTC’s daily chart are still flagging bullish.
The global crypto market cap has risen 0.61% over the last 24 hours according to CoinMarketCap. This has elevated the collective crypto market cap to approximately $799.27 billion at press time.
One crypto that has contributed to the recent rise in the global crypto market cap is Litecoin (LTC), which is up 7.48% over the last 24 hours. This impressive daily price movement for the altcoin has elevated its price to $74.54 at press time. As a result, LTC’s price is also up 7.87% over the last 7 days.
LTC has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 5.71% and 5.43% respectively.
The crypto analyst, Michaël van de Poppe (@CryptoMichNL), shared that LTC went “according to plan” according to his previous analysis on the altcoin. The analyst did, however, say that he “couldn’t get an entry.”
In the tweet made yesterday, he stated that there will be a fast continuation back to $80 should LTC’s price break above the $72 resistance level, which it has. This means that LTC’s price might look to target $80 in the coming 48 hours.
LTC’s price has broken above the 9-day and 20-day EMA lines but was met with resistance at $78 which brought its price down to its current level.
Technical indicators on LTC’s daily chart still suggest the presence of bullish momentum. At press time, the 9-day EMA line has just crossed above the 20-day EMA line and is now serving as support for LTC’s price.
In addition to this, the daily RSI line is positioned above the daily RSI SMA line and is sloped positively toward the overbought territory.
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 might make a move toward the $80 level after it broke above the $72 mark over the last 24 hours. Read more.){kind=link}