• Litecoin is hovering around $91 after jumping over 11%.
  • LTC’s daily trading volume has surged by more than 55%.

With the neutral sentiment in the crypto market, assets display mixed signals. The largest asset, Bitcoin holds at $96.5K, while Ethereum trades at $1.8K. Meanwhile, Litecoin (LTC) leads the 24-hour gainers with an 11.32% daily surge. 

The asset opened the day trading at a low of $81.18, before the bulls appeared. Later, the Litecoin bulls sent the price to a high of $93.18. At the time of writing, the asset traded at around $91.69, with a market cap of $6.94 billion.

Furthermore, the market has witnessed a liquidation of $2.15 million worth of Litecoin, as per Coinglass data . Besides, the daily trading volume of LTC has reached $861 million. 

Can the Bulls Keep Control of Litecoin?

If Litecoin’s trading window has room for further upside, the asset might find its crucial resistance at the $95.72 level. Upon clearing this, LTC could invite the golden cross to form and target the $100 resistance, eyeing more gains. 

However, a sturdy reversal of the uptrend triggers the death cross, allowing Litecoin to test the $87.22 support. Assuming the support collapses, the Litecoin price could fall back to the $80 mark, with the potential for more downside.

The Moving Average Convergence Divergence (MACD) line is above the zero line, and the signal line is below, indicating a brief bullish momentum. This crossover of the asset is considered an early sign of an uptrend or continuation of bullish sentiment.

Litecoin Lights Up the Charts: Will the Rally Continue After an 11% Surge? image 0

Additionally, the Chaikin Money Flow (CMF) indicator stationed at 0.03 suggests a slight positive buying pressure in the market, and the capital is flowing into the asset. Meanwhile, Litecoin’s daily trading volume has surged by 55.38%. 

Litecoin’s daily relative strength index (RSI) of 64.28 signals bullish momentum , approaching the overbought threshold, making more upward movement if momentum holds. The Bull Bear Power (BBP) reading of 9.74 infers the dominance of bulls in the market.