• 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
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
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
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Litecoin is About to See Exponential Gains Because of This Pattern

Cole Petersen by Cole Petersen
12 months ago
in Cryptocurrency news, Litecoin
Reading Time: 2min read
Litecoin LTC Crypto
Advertisement
Listen to Article

Litecoin’s 2020 rally has begun to reach a fever pitch as the crypto shows signs of entering yet another upwards leg that allows LTC to set fresh year-to-date highs.

Litecoin’s rally over the past several weeks has allowed it to put significant distance between its recent lows of $50 and its current price of just over $70.

This upwards momentum may just be getting started, however, as analysts are noting that the crypto is showing signs that it is currently in the early stages of its next parabolic rally.

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

Litecoin Breaks Above $70 as it Outperforms the Crypto Markets

At the time of writing, Litecoin is trading up over 5% at its current price of $71, which marks a notable climb from its daily lows of under $69 that were set in tandem with Bitcoin’s drop to lows of $9,200.

Although Litecoin has been generally tracking the trends seen by BTC and the aggregated crypto markets, it has been outperforming them, which is elucidated by the fact that it is currently trading up 4.6% against its Bitcoin trading pair.

Today’s climb was important for LTC bulls, as it invalidated a potentially bearish tweezer top that the crypto has formed yesterday.

Big Cheds, a popular crypto analyst on Twitter, spoke about bull’s ability to thwart this bearish pattern today, explaining that the formation will be invalidated if it closes above $69.89.

“Litecoin daily – Bulls charging forward, invalidating yesterday’s tweezer top with a potential close above $69.89,” he noted.

$LTC #Litecoin daily – Bulls charging forward, invalidating yesterday's tweezer top with a potential close above $69.89 pic.twitter.com/7O6LovDKeB

— Cheds (@BigCheds) February 1, 2020

LTC is Showing Signs of Starting Its Next Parabolic Uptrend 

One interesting observation that should be noted is the fact that Litecoin is currently in the process of forming an incredibly similar bottom formation to the one seen in late-2019, which was followed by a parabolic rally from roughly 0.007 BTC to nearly 0.02 BTC.

This 185% rally could soon be replicated by the crypto based on the fact that it is currently expressing a bottom formation incredibly similar to that seen before this previous parabolic rally.

Hsaka, a popular crypto analyst on Twitter, spoke about this in a recent tweet while referencing the pattern seen on the chart below.

$LTC pic.twitter.com/GkCTCl8qLZ

— Hsaka (@HsakaTrades) February 1, 2020

While considering the historical bullishness of LTC’s recent technical formation, it does appear to be increasingly likely that the crypto soon incurs a notable uptrend that potentially allows it to post massive gains against its USD trading pair.

Featured image from Shutterstock.
Tags: cryptoLitecoinltc
TweetShare109
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
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

defi

11 DeFi Projects Rumored to Be Airdropping Tokens

7 hours ago
Nimbus: The Next Big Thing in DeFi

Nimbus: The Next Big Thing in DeFi

8 hours ago
ILCOIN

Age of ILCOIN: A Revolution in The Merger of VR With Blockchain-Based Gaming

9 hours ago
Bitcoin Heads Towards $35,000 as Biden Stimulus Hurts US Dollar

Bitcoin Heads Towards $35,000 as Biden Stimulus Hurts US Dollar

12 hours ago
ACDX

ACDX Introduces the World’s First Crypto Structured Product – A Hybrid of Perpetual Futures & Options

13 hours ago
MicroStrategy Boss: No-One Can Take Your Bitcoin, Not Even The Taxman

MicroStrategy Boss: No-One Can Take Your Bitcoin, Not Even The Taxman

13 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

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

Press Releases

There’s a New Bitcoin Wallet on the Line – Cryonik.io

January 25, 2021

Join PEAKDEFI – a Safer Way to Grow your Wealth

January 25, 2021

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 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
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 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.