The Litecoin Price Analysis reveals that LTC rekindled the fever spread among its crypto compatriots, rising to a new 2019 high above $ 100.
Litecoin Price Analysis: Market Review
The strong gains may be the result of the announcement of a new partnership with the hotel booking platform Travala.com, and the news may be a sign that Litecoin 0 0 [1
While Litecoin and Binance Coin were the first to announce the start of a new, strong uptrend on the crypto market, Altcoin has been more dormant in the last three weeks and has been noticeably absent during the Bitcoin recent rise.
Today was the end of the LTC slumber and on Wednesday the Altcoin reached a new high of 2019 at $ 107.34.
LTC / BTC Daily Chart
Similar to the ETH / BTC pair, the LTC / BTC pair saw an uptrend with double bottom of 0.01143 and traders flowing into the following bull break.
The overhead resistance levels of 0.01325 and 0.01412 are in the daily time frame. A drop below the 12 EMA value at 0.01233 would return the LTC to the falling wedge. The MAC D appears on the verge of a bull cross from oversold regions, and the RSI is slowly moving into bullish territory. If the uptrend in the sector continues, Litecoin seems ready to grow his legs and run.
LTC / USD 4 Hour Chart
$ 109 and $ 127.90 are the next levels to be crossed for LTC, and it should also be noted that LTC set a higher low and a higher in the weekly time frame High on.
Regarding the recent demand for Altcoins, analysts believe that Bitcoin's recent Parckell returns will now go through the Altcoins for an upcoming "old season" and Bitcoin's dominance rate is slipping from a range of small-cap Altcoins.
Considering that Bitcoin is near the top of an amazing parabolic run, traders should consider taking Altcoin winnings quickly, keeping an eye on digital assets to maintain the exponential moving average of choice, and to use a stop-loss.
Do you think Litecoin (LTC) is going to hit $ 70 before Monday morning? Tell us your opinion in the comments below!
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[Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex and Coinbase. The charts for analysis are provided by TradingView.]
Images courtesy of Shutterstock, TradingView. Market data comes from Bitfinex and Coinbase.