Litecoin to See Explosive Rally to $100 as Crypto Market Builds Strength
Bitcoin incurred an explosive rally this morning that once again sent it screaming past $10,000, with today’s break of this level allowing it to set fresh 2020 highs of $10,400. This movement subsequently led Litecoin (LTC) and other major cryptos to similarly see some decent upwards momentum.
Litecoin, which has seen what appears to be the early stages of its next parabolic rally over the past several weeks, could now be poised for significantly further upside.
One prominent analyst believes that this next leg up will lead LTC to reach the $100 level, which may be where it finds some intense resistance that halts its uptrend.
Litecoin Closely Tracks Bitcoin as the Crypto Market Rallies
At the time of writing, Litecoin is trading up over 3% at its current price of $76, which marks a notable climb from daily lows of under $73.
Today’s rally came about during a fleeting selloff that the cryptocurrency incurred yesterday, which was sparked by Bitcoin’s recent drop to lows of $9,700.
It does appear that this recent price action is emblematic of a firm bull market, as each dip following notable rallies has been short lasting, leading some analysts to conclude that “dips are for buying.”
In the near-term, Bagsy, a prominent cryptocurrency trader, explained that he believes LTC will soon move from its current price of 0.0075 BTC to its next supply zone at 0.0095 BTC.
“LTC Thoughts: IF Bitcoin shows weakness, I think we’ll see a pullback before the move up into the 9K’s, otherwise I think it’s more likely we follow yellow path. I’m prepared for either scenario; don’t be that guy that’s overleveraged at resistance,” he explained just prior to today’s rally.
Three Key Reasons Why Bitcoin Could Plunge Below $5,000 in April
Wednesday April 01, 2020
Bitcoin prices plunged sharply over the first three months of the year as concerns about the global coronavirus pandemic and its impact on the economy grew. The benchmark cryptocurrency closed the year’s first quarter...
The post Three Key Reasons Why Bitcoin Could Plunge Below $5,000 in April appeared first on 12bitplay - Bitcoin Play.
IF #bitcoin shows weakness, I think we'll see a pullback before the move up into the 9K's, otherwise I think it's more likely we follow yellow path.
I'm prepared for either scenario; don't be that guy that's overleveraged at resistance. pic.twitter.com/suJ70n2plR
— Bagsy (@imBagsy) February 10, 2020
Bitcoin Just Passed $7,000 Yet Again: What Do Analysts Think Is Next?
Monday April 06, 2020
Minutes ago as of the time of this article’s writing, Bitcoin breached a daily high, rallying past $7,000 to near $7,050.This meant that from Sunday’s lows, BTC is up 5%, echoing gains seen in...
The post Bitcoin Just Passed $7,000 Yet Again: What Do Analysts Think Is Next? appeared first on 12bitplay - Bitcoin Play.
LTC to Target $100 in Next 30 Days After Bouncing at Key Support
In addition to seeing some gains against its BTC trading pair, analysts also expect Litecoin to see gains against USD.
Satoshi Flipper, a prominent cryptocurrency analyst on Twitter, spoke about this in a recent tweet, telling his followers that Litecoin hitting $100 is one of the easiest trades in the month ahead.
“LTC/USDT to $100. One of the easiest plays next 30 days,” he explained.
Bitcoin Holding Crucial Support: Here’s What Could Propel it to $7K
Wednesday April 01, 2020
Bitcoin corrected lower from the $6,600 resistance area against the US Dollar. BTC price is currently holding the key $6,250 support and it could start a fresh increase in the near term. Bitcoin started...
The post Bitcoin Holding Crucial Support: Here’s What Could Propel it to $7K appeared first on 12bitplay - Bitcoin Play.
$LTC/USDT to $100
One of the easiest plays next 30 days pic.twitter.com/fseg9yzOWJ
— Satoshi Flipper (@SatoshiFlipper) February 11, 2020
It is highly probable that Litecoin will only see this type of upwards momentum if Bitcoin remains in firm bull territory, but it is also likely that the crypto will outperform BTC in the coming days and weeks.
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