Litecoin Outperforms BTC, Analyst Says LTC Could Surge to $150

LTC surges, adds 19.6 percent
Halving is catalyzing demand


Thursday January 01, 1970

Up five-fold, LTC’s performance is sublime. Ahead of its block reward halving, demand is slated to increase, potentially being a catalyst to drive prices higher. At the time of writing, LTC is up a staggering 19.6 percent from last week’s close.
Litecoin Price Analysis
Fundamentals
A recent poll revealed that the best way of accumulating Bitcoin (BTC) is through altcoins. That is, savvy traders can buy altcoins for cheap and sell high before liquidating for BTC. Behind this view is a notion that altcoins like Litecoin, are volatile. That is debatable. But to a degree, it is a true sentiment.
Bitcoin, whose volatility has been on a decline in recent days and weeks, is drastically different than altcoins, in that they swing in large margins in short bursts. Presently, that is what traders are observing with Litecoin and Bitcoin Cash.
Litecoin’s rally is because of bullish on-chain events including prospects of confidential transactions and halving. The crypto community is ecstatic about August’s halving. Convinced that the resulting scarcity and supply-demand dynamics will give LTC a higher ‘fair valuation’. And as a result, Litecoin’s market cap is growing.
Commenting on this observation, DiPasquale, a technical analyst said:
“With LTC trading around $125, we can expect a steady rise towards $150 with some normal pullbacks along the way, provided Bitcoin remains between the $7,600 – $8,000 range at the very least.”
Candlestick Arrangement

Bitcoin Could Drop Towards $6,100 While Still Maintaining Parabola
Wednesday July 17, 2019

Bitcoin’s recent bout of downwards pressure has now sent its price decisively below $10,000, which appears to have marked the end of the long period of bullish momentum that BTC has experienced over the...

The post Bitcoin Could Drop Towards $6,100 While Still Maintaining Parabola appeared first on 12bitplay - Bitcoin Play.

Currently, Litecoin is up 19.6 percent from last week’s close thanks to yesterday’s eruption. Trading above $120, LTC bulls are unwavering, and clearly in control. Because of this break and close above $120, traders can search for opportunities in smaller time frames. It is easy to see why.
First of all, note that LTC is trading within a bullish breakout pattern against the USD. Thanks to May’s demand, the spike above April’s high at $90 did erase losses of Q4 2018 setting in motion the next wave of higher highs.
Secondly, last week’s losses did complete the retest as sellers failed to crash below the $100 mark. From previous mentions, any meltdown driving LTC below $80 could spur a selloff in a retest of $60 before a remarkable recovery.
Because bears floundered, the underlying buy momentum could easily drive prices to $150 or higher in days ahead.
Technical Indicators
Since the trend is up, June 10th candlestick anchors this trade plan. Although trading volumes are lower than those of May 30th at 596k versus 601k, participation is above average.
For uptrend maintenance, accompanying trading volumes must keep rising as demand ahead of halving increase.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Litecoin Outperforms BTC, Analyst Says LTC Could Surge to $150 appeared first on NewsBTC.

Ripple Price (XRP) Trading Near Make-or-Break Levels
Tuesday July 16, 2019

Ripple price found support near $0.2960 and recently recovered higher against the US dollar. The price traded above the $0.3100 resistance area, but it is struggling to break the $0.3200-0.3230 area. The bulls are...

The post Ripple Price (XRP) Trading Near Make-or-Break Levels appeared first on 12bitplay - Bitcoin Play.

You may also like...