Litecoin (LTC) on Monday showed the best dynamics among the top 10 crypto currencies, but now it is approaching the resistance level, it will not be easy to break through.
At the time of writing, the rate is $227, according to CoinMarketCap. Over the past 24 hours, the fifth largest currency grew by 7.93%.
The trading volume in pairs LTC / USD and LTC / BTC increased by 12.9% and 11.9% respectively. This means that investors use alternative crypto-currencies and bitcoin to purchase Litecoin.
It can be connected with the statement of the founder of Litecoin, that the latter will be able to surpass Bitcoin Cash this year by market capitalization. Or with the fact that the Litepay service allowed companies to accept payment for their goods and services in LTC. The launch of the service will take place today.
But despite the optimistic news, technical charts show that LTC is approaching the level of strong resistance - $ 230- $ 240.
The hard-won rally last week was exhausted around $ 230- $ 240. Breakthrough resistance will allow the rally to continue from the February 2 low of $ 110.20.
However, it's easier said than done: weekly charts indicate uncertainty in the market. The candle last week had a small body and long shadows, which indicates a tense struggle between bulls and bears. Crossing the line at $ 240 will be a daunting task for LTC.
