Litecoin (LTC) rose to $101.66. Its capitalization on the night of Friday, July 14, increased to $7.471 billion.
During the day, LTC added 6.5% in value, and the trading volume jumped to $1.157 billion. In June, the altcoin hit bottom at $71, and its subsequent rebound was the result of the activation of the bulls.
Having overcome several resistance zones, LTC broke above $100, but here the pressure intensified. Without additional support, the cryptocurrency will not be able to maintain its positions, analysts believe.
The RSI Relative Strength Index so far indicates oversold and hints at a positive scenario at least in the next 24 hours.
Over the past 30 days, litecoin is up more than 30%. There is still time before the August halving, and LTC could not only rise to $150 but also exceed $200 if the bulls remain in control.
Hashrates are on the rise this week, suggesting that miners are preparing for the upcoming drop in the reward for mining a block.
According to CoinWarz, the LTC hashrate increased to 773.641 Th/s on July 13. At the end of June, network capacity set a record by exceeding 800 Th/s, but earlier this month the hashrate fell to 695.126 Th/s.