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Litecoin (LTC) up by 13%, marks 17% weekly growth

By:
on Dec 26, 2020
Updated: Jun 16, 2024
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  • Litecoin price surged by over 13% in the last 24 hours, reaching the price of $130.
  • The last time the coin saw this price was in mid-2019.
  • LTC now sits as the 5th largest cryptocurrency with a market cap of $8.5 billion.

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While Bitcoin continues to dominate the headlines thanks to the fact that it hit a new ATH, it is not the only coin worth paying attention to. Its oldest fork, Litecoin, also saw some major price advancements in the recent period.

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Litecoin price in 2020

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Litecoin price has participated in several major rallies in 2020. The one that took place between January 1st and February 15th saw the coin go from only $42 to around $77.

After the mid-March crash caused by COVID-19, LTC saw a short period of recovery, followed by months of trading mostly sideways. In late July, it saw its first serious price movement which took it to $60, only for a bit to drop back down in September.

LTC finally started growing seriously in mid-November, although not without struggle.

Litecoin price reaching levels last seen in mid-2019

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Starting around November 11th, LTC price started to surge up once more — this time quite strongly. The coin managed to reach $90 only two weeks later, although it failed at breaching this level. The resistance was too strong, and it rejected its price down to $65.

LTC then launched another attempt to breach the resistance, once again reaching it, and once again being sent back, this time to a support at $70. It hit this support around December 11th, two weeks ago.

However, a few days later, Bitcoin started its own surge that allowed it to push past its historical high of $20k, and LTC followed. Both coins breached the resistances that kept them down, allowing BTC to go up to $25k, and LTC to go past $100, and even reach $130 — a level last seen during the mid-2019 price surge.

LTC price rallying alongside Bitcoin’s led many to buy LTC, expecting it to keep on climbing. At the time of writing, LTC sits at $128,70 after seeing a 13% increase in the last 24 hours. It is also worth noting that the coin’s price managed to grow by 17.25% in the last 7 days, allowing it to climb to the 5th spot, with a market cap of $8.42 billion.

Litecoin Crypto