LTC has been surprising cryptocurrency investors on the market for the last few months, as it has been actively breaking out since August. Unfortunately, large selling pressure negated any successful performance of LTC on the market, pushing it back to the trading range it had been moving in prior to the breakout attempt.
Two days ago, bulls continued to drag LTC to new highs, providing more than $43 million in buying support, which became the foundation for the rally that is now fueled mostly by retail investors who are jumping on the strongest position on the market. Only a slight 5% price increase will put long-term holders back in profit despite the prolonged downtrend Litecoin has been suffering for the last 560 days. Such devastating performance practically destroyed LTC's attractiveness among investors, but the situation may change if the explosive price performance prevails on the cryptocurrency.