This week, the cryptocurrency continued to maintain a bullish momentum, and the bullish tone rose again. Litecoin price approaches $70, reaching its highest point in nearly a month. The current price is $67.29, up 1.67%.
According to Citicoins’ Litecoin price index, litecoin markets, the world’s seventh-largest market capitalization cryptocurrency reached $68.59 at 12:10:00 UTC on September 4, the highest price since the most recent month, rising 4.2% on the day.
The picture below is a seven-day litecoin chart of Litecoin from Citicoins:
The recent bullish sentiment in the overall market may be due to a big rebound triggered by Bitcoin’s low of $6,000 at the end of August. More importantly, as CoinDesk previously reported, the world’s leading cryptocurrency by market capitalization is on the rise, scrambling for a leading position.
The long-term picture is also looking rosy, courtesy of the weekly MACD’s bullish turn. As a result, LTC could soon find acceptance above the immediate resistance lined up at $69.00 (50-day MA).
Litecoin market cap capitalization is $3.95 billion, the highest level since early August.
The broader market is also flashing green. Names like bitcoin (BTC), bitcoin cash (BCH) and EOS are all recording price growth in the past 24 hours. Meanwhile, Monero (XMR) is the biggest gainer among the top 10 cryptocurrencies with a more than 10 percent price increase since yesterday.