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  • LTC/USD continues growing strongly.
  • The next bullish target is seen at $60.00.

Litecoin (LTC) remains one of the best-performing cryptocurrencies out of top-20. The coin has gained nearly 8% in recent 24 hours to trade at $56.47 at the time of writing. On a weekly basis, LTC has grown 13% amid strong buying interest.  

Litecoin takes the fifth place in the rating of digital assets compiled by CoinMarketCap with current capitalization of $3.4B. It is worth noting that Litecoin’s trading volume has nearly doubled since the beginning of the week and reached $2B, the highest level since February 2018.

From the longer-term point of view, DMA200 at $44.54 served as an excellent jumping-off ground, and most likely to stop the correction once it happens. A sustainable move below this critical level will open up the way towards $40.50 (DMA50) and $36.00-$35.90 (the upside trendline from December 24, 2018 low.

The next bullish target is seen as high as $60.00, followed by psychological $70 and $71.13 (SMA50, weekly). LTC/USD stays below weekly SMA50 since May 2018, which means that a sustainable move higher will create an additional positive impulse.
 
LTC/USD, 1D chart