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Litecoin, unlike Bitcoin, has been a slow but steady asset in the cryptocurrency industry. LTC, once the third highest cryptocurrency in the world, has lost two positions at this point and is now 5th according to CoinMarketCap.
Litecoin’s success story over the years cannot be written without mentioning the efforts of its founder Charlie Lee. Lee is one of those who doesn’t let the price move, but wants cryptocurrencies to reach their goals shortly.
Fortunately for Litecoin and its community, cryptocurrency has received some attention in the past few days as the price of Litecoin hit the $ 100 mark, which has been a significant drag for some time.
Litecoin back at $ 100 price
2019 seems to have preferred the fifth-placed cryptocurrency. Since the beginning of the year, Litecoin has been in its current uptrend after a drastic decline from its all-time high in late 2017.
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At the time of writing, Litecoin is selling $ 101.53. This would be the third attempt at this price level.
An attempt was made on April 3, 2019. Litecoin hit a high of $ 99.89 after which a sell-off ensued that lasted over 20 days.
On May 16, 2019, Litecoin made another attempt to break its previous level of resistance. The coin hit a high of $ 107.60 before ending the day on a bearish note as the bears took over, causing a slight pullback.
While Litecoin is struggling at current levels, a successful attempt at $ 110 could result in Litecoin targeting its all-time high again.
According to the TradingView chart on LTCUSD, RSI indicator, period 14 appears to be reaching lower lows contrary to what the candles say. Traders should therefore be aware that there is the possibility of another round of bearish days.
Litecoin acceptance
Litecoin has focused on the widespread adoption of its cryptocurrency in recent years rather than focusing on trading and investors.
ZyCrypto on April 18th reported Litecoin’s recent adoption history. Sportsbet.io, one of the industry’s leading platforms, announced that it has added support for the Litecoin cryptocurrency.
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The views expressed in the article are solely those of the author and neither correspond nor should they be attributed to ZyCrypto. This article is not intended as financial advice. Please do your own research before investing in any of the various cryptocurrencies available.
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