Man, it has been a tough year for litecoin holders as the coin price languished all year, even after bitcoin and ethereum had started moving higher.
However, the alt party must really be kicked off cus LTC is roaring and has doubled in price over the last month!
Looking at the daily chart we see that it is testing the 2020 highs marked back in February.
The 78 level was a key pivot point several times the past couple years, however, price poked through that with the 2020 highs before failing to maintain the breakout.
It is to no surprise that price has rallied and is not fighting with this price point.
LTC needs to close above 85 in my opinion for this bullish rally to continue. Otherwise price is at risk of being rejected by the 2020 high.
Here's the thing though. Even with LTC doubling in price the last month or so, it still lags BTC and ETH in that both are above their 2020 highs.
BTC is by far and away the leader, far surpassing its 2020 high while ETH just broke the level in the past day or two.
Maybe that means the writing is on the wall for LTC and a new 2020 high will happen any day now?
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