Despite the global cryptocurrency market cap dropping by 0.51%, Litecoin showed an increase at the beginning of the weekend.
Over the weekend, Litecoin (LTC) maintained its upward momentum and traded close to a multi-week high. On Saturday, the LTC/USD pair peaked at $93.97, bouncing back from a low of $89.87 in less than 24 hours. As a result, Litecoin is currently trading near the $94.00 level, which is close to its recent three-week high of $96.11.
One of the factors driving the rally was the recent crossover between the 10-day and 25-day moving averages on the daily chart. Additionally, the RSI has climbed to 57.07, which is slightly above the resistance level of 56.00. If bullish momentum persists, there is a high likelihood that Litecoin could surpass the $100.00 mark.
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