Litecoin (LTC) has recently completed its most bullish week since June, following a remarkable rise. The \u201cdigital silver\u201d registered over 24% gains in the last seven days alone. There\u2019s no main catalyst for the token\u2019s impressive rise. However, its gains come amidst its hash rate reaching a new all-time high during the week.\u00a0<\/span><\/p>\n Furthermore, it has started the week off on a positive note by confirming its partnership with Wanchain. As far as the network\u2019s interoperability is concerned, this news is a big win.<\/span><\/p>\n In the previous week, Litecoin has gained 24%, propelling it into the top 20. These gains come despite other tokens in the top 20 league registering substantial losses and few gains. For instance, Bitcoin, the mother crypto, only gained around 1.65% in the past week, per <\/span>CoinMarketCap metrics<\/span><\/a>. In fact, no token in the top five positions recorded up to 5% gains. Besides Litecoin, Polygon is the other top-20 token with massive gains in the previous week. The Ethereum layer-2 protocol, MATIC, was seen showing gains of 40%.\u00a0<\/span><\/p>\n LTC began a run on October 21 after reaching a low of $49.55. But November is setting up to be a bullish month for the altcoin. Since the beginning of the month, Litecoin has seen five consecutive days of rising prices. On November 7, it set a new intraday high of $73.29. This was the highest price since May of this year.\u00a0<\/span><\/p>\n Most of LTC\u2019s gains came on November 1st when the coin registered 15% gains in a single day. The main catalyst was MoneyGram\u2019s <\/span>announcement<\/span><\/a> that it\u2019d allow U.S.-based customers to purchase LTC and other cryptos in its app.<\/span><\/p>\n Considering its present position, LTC\u2019s upward trajectory might soon level off. This is because the cryptocurrency has already reached extreme overbought levels during its recent bull run. At the time of publication, the RSI leading indicator for the token was also signalling a possible reversal.<\/span><\/p>\n Looking closely at its price activity suggests further room for selling pressure. For instance, after hitting rock bottom in June, the price of litecoin has been steadily climbing inside an upward channel. In the final week of last month, it retested the line of resistance, raising the prospect of a reversal to the downside.<\/span><\/p>\n In fact, in the past week alone, Litecoin has gained as much as 25. Its efforts to break out of the lower zone are likely diluted by traders grabbing quick profits. However, the absence of bullish pressure will make this fragile and allow the bears to gain ground. To put it another way, this is a fantastic chance for short sellers.<\/span><\/p>\nLitecoin Joins Polygon To Lead the Top 20 Tokens In Gains<\/span><\/h2>\n
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Can LTC Keep up The Momentum?<\/span><\/h2>\n
LTC Mining Difficulty Reaches New High<\/span><\/h2>\n