Litecoin Closing Above This Level Could Mean 100% Surge Will Take Place
There was a time when Litecoin was trading alongside the crypto market’s foremost leaders, Bitcoin, Ethereum, and XRP ,But over the past few years, since the previous market bubble, the prominent altcoin has suffered.
As of the time of writing this article, LTC is now the seventh-largest cryptocurrency by market capitalization not bad by any stretch but not as good as it has been in the past.
According to a prominent Bitcoin analyst, however, Litecoin could be on the verge of gaining even more strength against its altcoin brethren, claiming that a “new Market Cycle” is on the verge of forming, Here’s more on that.
Litecoin Forming Key Reversal Pattern
Rekt Capital, a technical analyst, recently noted that Litecoin’s chart against Bitcoin is showing signs that a macro reversal is forming after LTC’s crashed against the market leader in 2019, failing to keep the pace with a dominant BTC.
Indeed, a reversal seems to be forming. In the past month, Bitcoin has posted a jaw-dropping 35% performance, but Litecoin has done even better, surging by 76%, per data from Coin360.
This has allowed the Litecoin against Bitcoin pair to surge higher.
Rekt Capital’s analysis indicates that if LTC/BTC manages to hold above 0.0075 BTC, the top of the blue range on the chart below, on a weekly basis, it would bring the asset closer to “confirming a new Market Cycle.”
Read the full topic at
https://www.newsbtc.com/2020/02/02/litecoin-closing-above-level-mean-100-surge-take-place/
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As of the time of writing this article, LTC is now the seventh-largest cryptocurrency by market capitalization not bad by any stretch but not as good as it has been in the past.
According to a prominent Bitcoin analyst, however, Litecoin could be on the verge of gaining even more strength against its altcoin brethren, claiming that a “new Market Cycle” is on the verge of forming, Here’s more on that.
Litecoin Forming Key Reversal Pattern
Rekt Capital, a technical analyst, recently noted that Litecoin’s chart against Bitcoin is showing signs that a macro reversal is forming after LTC’s crashed against the market leader in 2019, failing to keep the pace with a dominant BTC.
Indeed, a reversal seems to be forming. In the past month, Bitcoin has posted a jaw-dropping 35% performance, but Litecoin has done even better, surging by 76%, per data from Coin360.
This has allowed the Litecoin against Bitcoin pair to surge higher.
Rekt Capital’s analysis indicates that if LTC/BTC manages to hold above 0.0075 BTC, the top of the blue range on the chart below, on a weekly basis, it would bring the asset closer to “confirming a new Market Cycle.”
Read the full topic at
https://www.newsbtc.com/2020/02/02/litecoin-closing-above-level-mean-100-surge-take-place/
Follow me on
Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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