Litecoin (LTC) reached its highest level since the beginning of the summer over the weekend.
On August 14, on some trading floors, the altcoin broke above $65 - this is the maximum value since June 8.
However, LTC could not break the resistance in this area, and the rollback resumed on Sunday.
Moreover, the pressure has increased over the past two days. On the night of Tuesday, August 16, the LTC rate fell to $60.89. The capitalization of Litecoin decreased over the day by more than 4% to $4.324 billion.
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The coin is still holding in the area of strong support. Trading volume rose to $404 million in 24 hours.
The RSI index for Litecoin keeps around 63 - this is an intermediate state between overbought and oversold assets. That is, the chances of a rollback and a rebound are approximately equal.
The bears will try to bring LTC below $60, in which case the reset may turn out to be strong.
If the coin stays above $60.8, then it will have a good chance to rise to $66 and even to $70, analysts predict.
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It is unlikely that sharp movements await us in the next few days. Network activity on Litecoin remains weak.
According to BitinfoCharts, the average daily number of transactions on the blockchain has dropped to 90,405 as of August 15th.