Litecoin Rallies to New 2019 High as LTC/BTC Pair Turns Bullish

Litecoin Rallies to New 2019 High as LTC/BTC Pair Turns Bullish

Litecoin price analysis shows LTC has reignited the fever shared amongst its crypto compatriots and rallied to a new 2019 high above $100.


Litecoin Price Analysis: Market Overview

The hefty gains could be the result of the announcement of a new partnership with hotel booking platform Travala.com and the news could be a sign that Litecoin 00 is finding another niche for mainstream 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 within the crypto market, the altcoin had been somewhat dormant over the last 3 weeks and noticeably absent during Bitcoins most recent surge.

Today marked the end of LTCs slumber and on Wednesday the altcoin railed to a new 2019 high at $107.34


LTC/BTC Daily Chart


Similar to the ETH/BTC paring, the LTC/BTC pair broke bullish at the 0.01143 double bottom and traders flowed into the bull break that followed.

The overhead resistance levels of 0.01325 and 0.01412 are on the daily timeframe. A drop below the 12-EMA at 0.01233 would place LTC back within the falling wedge. The MAC D appears on the verge of a bull cross from oversold regions and the RSI is slowly making its way into bullish territory. If the bullish trend throughout the sector remains, Litecoin appears ready to grow legs and run.


LTC/USD 4-Hour Chart


$109 and $127.90 are the next levels for LTC to overcome and it should also be noted that LTC set a higher low and higher high on the weekly time frame.

As for the recent pump in altcoins, a popular theory among analysts is that profits from Bitcoins recent parabolic run are now making their way through altcoins for an upcoming alt season and as Bitcoins dominance rate decreases traders are expected to see hefty gains from an array of small-cap altcoins.

Given that Bitcoin is near the top of an amazing parabolic run, traders might consider taking altcoin profits quickly, keeping a close eye on a digital assets ability to maintain the exponential moving average of choice and using a stop loss is strongly advised.

Happy trades!

Do you think Litecoin (LTC) will tackle $70 before Monday morning? Let us know what you think in the comments below!

Trade Bitcoin (BTC), Litecoin (LTC) and other cryptocurrencies on 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 sourced from Bitfinex and Coinbase.

The post Litecoin Rallies to New 2019 High as LTC/BTC Pair Turns Bullish appeared first on Bitcoinist.com.

16.05.2019 / 00:20 35
Pay with Litecoin in More than 500K Travala Properties and Save 40% Pay with Litecoin in More than 500K
One of the worlds crypto open traveling platform, Travala, is partnering with the Litecoin Foundation allowing Litecoin (LTC) to be used in over 500K
Crypto Market, Bitcoin Surging: Bitcoin Cash, ADA, Litecoin (LTC), TRX Analysis Crypto Market, Bitcoin Surging: Bitcoin
The total crypto market cap bounced back after testing the $167.5B level. Bitcoin price rallied to a new 2019 high above the $5,500 resistance level.
Litecoin Price Analysis: LTC is the Lead Bull For Five Weeks Running Litecoin Price Analysis: LTC is the
Litecoin (LTC) and Binance Coin (BNB) are the lead bulls propelling the market higher again. Since last week, the former is up 28 percent. Prices are
Crypto Market Rally Facing Resistance: Litecoin (LTC), BNB, BCH Price Analysis Crypto Market Rally Facing Resistance:
The total crypto market cap rallied recently and tested the key $128.0B resistance level. Litecoin (LTC) price gained more than 12% and it broke the
Litecoin Price Analysis: Can LTC/USD Surpass $175? Litecoin Price Analysis: Can LTC/USD
However, the downside move was protected by the $165 level, which is a decent short-term support. Moreover, the 50% Fib retracement level of the last
Litecoin Price Analysis: LTC/USD is Back in Uptrend Litecoin Price Analysis: LTC/USD is
It broke the 23.6% Fib retracement level of the last wave from the $155 low to $175 high. However, there is a major bullish trend line forming with
Comments (0)
Add a comment
Comment on