Litecoin price analysis shows that LTC has resumed the fever that is shared among its crypto mixers and rallied to a new 2019 high over $ 100.
Litecoin Price Analysis: Market Overview
The powerful gains can be the result of a new partnership with the hotel platform Travala.com and the news may be a sign that Litecoin 0 0 finds another niche for common use.
While Litecoin and Binance Coin had been the early birds that signaled what turned out to be the start of a new strong bullish trend in the cryptic market, the alcoin had been a little dormant over the last 3 weeks and noticeably absent during Bitcoin's most recent surplus.
Today, the end of the LTC slumber marked and on Wednesday, the alt line jumped to a new 201
LTC / BTC Daily Chart
Like the ETH / BTC pairing, the LTC / BTC pair broke the bullish loop 0.01143 double bottom and traders fled into the bullfight that followed.
The overhead resistance levels of 0.01325 and 0.01412 are on the daily time frame. A drop below 12-EMA at 0.01233 would return the LTC within the falling wedge. MAC D is displayed on the border of a bull cross from exaggerated regions and RSI slowly makes its way to a haunted territory.
LTC / USD 4 Hour Chart
$ 109 and $ 127.90 is the next level for LTC to overcome and it should also be noted that LTC puts a higher low and higher high on week time.
As for the latest pump in the altar, a popular theory among analysts is that profits from Bitcoin's latest parabolic run are now going through altcoins for an upcoming "all-season" and since Bitcoin's dominance level decreases merchants is expected to see substantial gains from a row small-bodied altcoins.
Bearing in mind that Bitcoin is near the top of a stunning parabolic run, traders may consider taking quick profits on profits, keeping a close eye on the ability of a digital asset to maintain the exponential moving average of the election, and using a stop loss is highly recommended. .
Do you think Litecoin (LTC) picks up $ 70 before Monday morning? Let us know what you think in the comments below!
Trading Bitcoin (BTC), Litecoin (LTC) and other cryptographic courses on the online Bitcoin Forex Broker Platform evolve.markets.
[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 obtained from Bitfinex and Coinbase.