Litecoin (LTC) Technical Analysis: Leads Market Recovery But Unlikely to Stay Above $100 For Long – Investing.com

price is standing out as the best performing cryptocurrency among the top 10 today, with an 8.55% gain against the US dollar and a 6.38% lead ahead of .Trading volume has also seen a notable increase of $1.3 Billion in the last 24 hours, according to CMC data, but a rising wedge pattern on the daily chart foreshadows a steep correction soon.

In the news recently, Litecoin’s hash rate reportedly hit a new all-time high following rumours that Bitmain’s next generation L5 miner has started operating on the network. A rising hashrate is regarded as a positive sign for the network, as it increases overall security and further safeguards against 51% attacks.

Other fundamental catalysts which are likely to be driving new bullish support towards the project is the

This article appeared first on Cryptovest

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