How Litecoin (LTC) Is Able To Muster A 5-Day Straight Rally

Litecoin (LTC) is performing at its peak levels as seen in the past five days. LTC exhibits the formation of a rising parallel channel pattern LTC price is down by 0.69% as of this writing LTC price on a 5-day straight rally registered a growth of 21.4% LTC is having a bull run as validated by the formation of a rising parallel channel pattern touching the key resistance seen at $66. The key resistance zone has been a major hurdle for LTC hindering any bullish growth for the past couple of months, hinting at a price reversal. Nonetheless, even if the LTC price can break through the resistance zone, there are still more junctures in the road. Related Reading: Avalanche Outmatches Top Cryptos As AVAX Posts 11% Rally In Last 7 Days Litecoin Manages To Hold Above $53.5 Support The crypto market has been taking the low blows with major corrections going on that further toppled down BTC and other major altcoins in 2022. Even though Litecoin did suffer through a retracement, the support of buyers has allowed the altcoin to hold above the key support zone of $53.5. According to CoinMarketCap, LTC price has plunged by 0.69% or trading at $82.59 as of press time. The support level has been retested multiple times which allowed the bulls to come back stronger on September 7. Moreover, the bullish reversal also helped with sustaining the buying momentum and the rising parallel pattern which hoisted the recovery of LTC in the past three mo...