Litecoin leading the rally as LTC trades above $80

03 May, 2019 | Updated: 03 May, 2019
by Richard Allen
Price Action
Litecoin leading the rally as LTC trades above $80

Litecoin, the fifth biggest cryptocurrency by market cap, has been one of the best performing altcoins of 2019, rising two-fold since the start of the year. Now, with Bitcoin approaching $6,000, Litecoin has crossed that all-important benchmark of $80.

Litecoin is leading the top 10s with gains of 8.98% over the last 24 hours, bringing the value of one LTC to $80.29. Litecoin has tried in the past to break through the $80 resistance level but has failed. According to Smartereum, now that it's broken through, the next resistance level is $82.50. However, if things turn around and LTC dips below $67, a drop to $62 and $60 may be likely in the coming days.

LTC/USD chart provided by Tradingview

In addition to riding the gains experienced throughout the market, Litecoin’s halvening is scheduled to take place in less than three months, which may have had an impact on the project’s phenomenal performance.

Other notable earners include Bitcoin Cash and EOS, both of which are almost 8% in the green trading at $295.73 and $5.09 respectively.

Some analysts have been saying the crypto market has bottomed out and the bears are losing their grip. While many were unconvinced, today’s price action is sure to change a few minds.

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