Litecoin hit a seven-month high on Friday's trading and continues to rally

On Friday, February 8, the Litecoin price hit a seven-month high, paired with Bitcoin, while the latter is flat in the region of the minimum seven-week values.

As of 16:00 UTC, the “digital silver” continues to rally (more than 18% in the last 24 hours), however, Omkar Godboul, an analyst at CoinDesk Markets, thinks that if the RSI indicator shows overbought in the 14-day period, further growth will be threatened.

TradingView data

Cancellation of the bull trend will occur in case of breaking through the mark 0.010182 BTC, however daily trading volumes in favor of its stability are already more than $ 1.1 billion. To confirm further growth, Godboul is sure, trading should close above the level of 0.010182 BTC in order for the figure of the inverted head and shoulders finally formed.

In the meantime, the Bitcoin community has nothing to please. Godboul stressed that until the first cryptocurrency passes the $ 3,417 mark and consolidates above it, there will be a risk of falling to $ 3,100.

Bitstamp data

Other top 10 players on the CoinMarketCap list also show growth: among the leaders are EOS and Ethereum.

CoinMarketCap data

Recall earlier it became known that the developers of Litecoin are considering the possibility of implementing the MimbleWimble protocol.

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