Altcoins News
By Sydney TheCMO
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Litecoin reached a new all-time high of $413.09 during its rally on Monday, perhaps ending its streak of underperformance.
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Other major cryptocurrencies such as Ethereum have also performed exceptionally well, especially in the last few weeks, but Litecoin price action indicates an underperformance.
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LTC is currently trading near its 24-hour low of $361.69, while its current 24-hour high is $394.37.
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While the technical indicators are currently supporting further momentum, a look at Bitcoin's current performance may also create a clearer picture of what to expect.
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Litecoin’s current price, especially compared to that of Bitcoin and ETH, indicates that it is still in the underperforming zone.
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Crypto analyst Alan Masters concluded with the help of Fibonacci lines that LTC could potentially soar to around $1,500 in the next few weeks and might potentially peak at $5,000…
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Litecoin founder, Charlie Lee stated that the Mimblewimble update will introduce more fungibility and privacy to Litecoin.
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The Mimblewimble update has been in development since 2019 but its lead developer David Burkett recently revealed that it is close to completion.
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Litecoin’s performance so far this week is a good indicator that there is significant bullish pressure and that there is a lot of wiggle room for it to grow.
The Currency Analytics
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