• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis LTC

Litecoin Rallies While Altcoins Flounder, Here What’s Behind The Show Of Strength

Tony Spilotro by Tony Spilotro
5 months ago
in LTC
Reading Time: 4min read
litecoin show of strength altcoins ltc

Business man holding glowing lightning bolt in his hands concept

Advertisement

Bitcoin remains below its high set earlier in the week, but out of nowhere, Litecoin has surged an additional 13% today alone, capping off a 33% green week for the previously lagging altcoins.

But why is the altcoin offered referred to as digital silver soaring so wildly compared to the rest of the crypto space, Bitcoin including? Here are a dozen or so key factors behind the Litecoin rally and why an end is nowhere in sight.

Litecoin Soars 13% Intraday, Is A Long-Term Altcoin Recovery Here?

Bitcoin has been destroying all expectations and smashing through any slight chance of resistance with ease. In its wake, it has also decimated most altcoins, dealing a devastating blow to the alternative crypto tokens and causing dominance to rise to two-thirds of the total market cap.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Altcoins are seemingly in trouble, except for one light in all the darkness: Litecoin. Even Bitcoin today couldn’t revive its bullish momentum enough to set a new peak. Yet Litecoin has added 13% to its value today alone, taking the once lagging altcoin to $83.

litecoin ltc btc

Litecoin surges more than 13% in a single day while Bitcoin remains stable | Source: LTCUSD on TradingView.com

In the past week alone, Litecoin has risen 33%, and it could only be the start. The fact that the hard-capped altcoin built on modified Bitcoin core code has spent so long behind Ethereum, DeFi, Chainlink, and the rest of the crypto space, it is time for the coin to come out from the shadows and brighten up the somber altcoin market once again.

But why, aside from previous underperformance being made up for, is the asset so suddenly bullish.

The PayPal Effect And Picture Perfect Technicals Suggest LTC Will Outperform Bitcoin

The impact that PayPal including Litecoin will have on the price per LTC cannot be overstated. Bitcoin is four times as scarce as Litecoin but is also 225 times more expensive per coin.

Institutions, corporations, celebrities, and the wealthy are buying Bitcoin, causing the rally that’s taken place over the last few months and throughout 2020.

But all the same reasons that BTC is a fintech force to be reckoned with are also featured in Litecoin thanks to its birth by Bitcoin Core code. Only 84 million LTC spread across 346 reported PayPal users, leaves room for just 0.02 LTC per user.

And at a cost of just $80, compared to $18,000, $490, and $250 for the other coins listed, Litecoin is bound to shine.

ltcusd litecoin

Bullish Litecoin signals stack up against the dollar | Source: LTCUSD on TradingView.com

But technicals also back up the asset’s bullishness on both the USD and BTC pairs.  Against the dollar, LTC is breaking up out of a long-term symmetrical triangle, and an inverse head and shoulders bottoming pattern.

There’s also an enormous “Adam and Eve” bottom, consisting of a sharp, V-shaped bounce, followed by a more prolonged, rounded structure.

Coinciding with the chart patterns, indicators also point to massive upside, with the first target being $150. The Average Directional Index, used to measure trend strength, shows that bulls are in control by crossover the green DMI line. The ADX itself is rising beyond the key reading of 20, which confirms a new trend is brewing.

The Relative Strength Index is also rising into bull market territory for the first since Litecoin’s halving in 2019. When the RSI on weekly timeframes reaches this level, another between 60% and 1300% rally has followed.

ltcbtc

Hidden bear div on RSI and wedge breakout, coinciding with TD 13 buy setup and more | Source: LTCBTC on TradingView.com

The Bitcoin trading pair against LTC, also is equally as bullish, while the rest of the altcoin market faces extinction. LTC is breaking up out of a massive falling wedge stemming back to the 2019 peak.

RSI downtrend resistance is already broken, and a weekly close will confirm the move against BTC. The current weekly candle is above the middle line on the Bollinger Bands, which suggests at least a push to the upper band if this Sunday night’s close is still higher than the midline.

There’s also a massive hidden bullish divergence on the RSI, just as it breaks upward, and last week’s sweep of lows against BTC, triggered a TD Sequential “13” buy setup.

The last 13 caused LTC to bounce toward its 2019 highest against BTC, but a second one failed after the high was set. If the third time is the charm, Litecoin will outperform the rest of the market for quite some time, given how bullish it is against BTC, and how bearish the rest of the altcoin space is.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: altcoinbitcoincryptoLitecoinltcltc/usdltcbtcLTCUSDT
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

litecoin bitcoin fantasy-3378458_1920

Litecoin On The Verge Of Monster Move Against Bitcoin

1 week ago
bitcoin litecoin crypto

Litecoin Signal Shines, Suggests Downtrend Against Bitcoin Is Over

2 weeks ago
litecoin signs

Five Signs Litecoin Has Bottomed, Next In Line For New ATH

3 weeks ago
litecoin bounce bitcoin ltcbtc ltc btc

Digital Silver: Why Litecoin Is Poised To Bounce Versus Bitcoin

1 month ago
litecoin teleport dogecoin

Why Litecoin Is The Next Crypto To “Teleport” Like Dogecoin

1 month ago
litecoin ltc crypto

This Litecoin Fractal Says Time Is Running Out To Accumulate At Low Prices

2 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Sign up and Get Free $30 Coupon With Nhash Cloud Mining Services

April 15, 2021

On CROSS, NFT Loans is supported

April 15, 2021

Here Come NFT + Games! WaykiChain and Chongqing Mebius Join Hands in a Strategic Partnership

April 15, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.