Contents hide

1. Lights Out For This Altcoin’s Bull Market

2. Smart Money Signals That Litecoin Is Ready To Bounce Against Bitcoin

3. Will Litecoin bounce back to Bitcoin and recover completely?

3.1. 5 Things to Consider Before Investing in Cryptocurrency

3.2. Tax on Cryptocurrency In India – Complete Guide 2022

3.3. New Cryptocurrency Bill Advances to Senate in Brazil

3.4. USDC Sees Native Launch on Avalanche

3.5. Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs

If you can’t even call it the once-popular cryptocurrency built on Bitcoin code, Litecoin has a brutal “bull market.” But that could all turn around soon as the LTC-BTC trading pair brews a massive bounce.

A changeover of the trading pair could aid Litecoin in reaching the rest of the market, which has already established some and new all-time highs. The upside could be quick and violent if and when LTC recovers against BTC. Here is why.

Lights Out For This Altcoin’s Bull Market

When compared with Dogecoin, Ethereum, Bitcoin, Binance Coin, and a few others, the Litecoin chart shows how deeply dark the crypto winters are for an altcoin. At the height of the last bull market, Litecoin was an incredible player who went flash above $360 per LTC.

In 2019 the Altcoin led the charge, driven by the buzz around the block half-payout of the Protocol. The code of Litecoin is very similar to the Bitcoin code, with several key similarities that the “digital silver,” such as hard-coded scarcity, would benefit from.

There are only 84 million LTC, a mere quarter of the supply to the BTC. And if scarcity drives demand behind Bitcoin, it’s confusing that Litecoin doesn’t follow. However, the interpretations of the LTCBTC price chart by one analyst show a bounce.

LTCBTC on TradingView.com

Smart Money Signals That Litecoin Is Ready To Bounce Against Bitcoin

The trader who shared this chart says that LTCBTC currently supports a decreasing wedge in the long term, which corresponds with a sweeping disparity in the balance volume indicator (OBV).

The OBV is often considered the “smart money indicator” – named as such for its ability to collect traffic signals before prizing begins. These signals represent the use of “smart money” early before billing. Fractals from the last bull market suggest an emergence is near, but coin owners take their time.

Losing support would bring LTCBTC to the lowest level at this time, but a complete overturn could bring the altcoin back to the highest in its Bitcoin relation. For many years, Litecoin is one of the oldest and only one of the few cryptocurrencies to hang on the top ten assets by market cap even though it is incapable of reverting its previous price record.

Save 30% Trading Fees on Using BUC

Will Litecoin bounce back to Bitcoin and recover completely?

For the last couple of weeks, Litecoin has traded in an upward trend and finally came out of an essential 4-hour pattern. Ahead of a new 2021-high over $250 LTC bulls face weak resistance. In the 4-hour chart, Litecoin broke up from the ascending triangle pattern with a price target of $265, a move of 27% calculated by reference to the size of the pattern.

LTC/USD 4-hour chart

The IOMAP chart only shows a crucial area of resistance between $227 and $233, with 42,000 addresses producing 2.24 million LTC volume. The IOMAP chart seems to be adding credibility to this perspective. There are hardly any other obstacles, however, above this point.

5 Things to Consider Before Investing in Cryptocurrency
5 Things to Consider Before Investing in Cryptocurrency There is no question that cryptocurrencies have established a new investing sector. With the value of digital currencies such as Bitcoin over USD 19,000, cryptocurrencies have piqued the interest of mainstream media, buyers, and investors. Those at the vanguard of investing see the benefit of including these […]
Tax on Cryptocurrency In India – Complete Guide 2022
Wondering how taxation on crypto works in India? How much do you have to pay tax on cryptocurrency in India? How 1% TDS is levied on crypto? Don’t worry we have covered all the aspects of taxation on cryptocurrency in India and created a Complete guide for you – As per Union Budget 2022, Cryptocurrencies […]
New Cryptocurrency Bill Advances to Senate in Brazil
A new cryptocurrency bill was approved by the Chamber of Deputies of the Brazilian Congress last week, and is now awaiting review by the Senate for approval. The project, if approved, would introduce a central body to regulate all cryptocurrency brokerage activity — ostensibly the Central Bank of Brazil — and establish new penalties for […]
USDC Sees Native Launch on Avalanche
USDC, the second leading stablecoin by market cap, has been launched on the Avalanche blockchain as a native token. Previously, users wanting to get USDC in Avalanche had to bridge it via Ethereum. Now, Circle, the issuer of usd coin (USDC), will allow users to mint the tokens directly on Avalanche’s C-Chain, saving on fees […]
Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs
On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs. Nexo to Offer Loans for Bored […]