• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Will ethereum price Initiate Another Bullish Breakout For Bitcoin?
Nexo

Will Litecoin Initiate Another Bullish Breakout For Bitcoin?

Martin Young by Martin Young
3 years ago
in Litecoin, Altcoin News, News, News teaser
0
Advertisement

Last year’s crypto rally which began in April was largely the catalyzed by a major move from Litecoin. Technical signals are now turning bullish for LTC again, so will it repeat the move and boost bitcoin in the process?


Litecoin Turning Bullish

Litcoin was one of the biggest movers in the first half of 2019. The crypto asset surged 380% from $30 to max out at $145 in a pre-halving pump. It was widely reported that Litecoin was the catalyst for the industry wide rally that followed in Q2.

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

The rest is not worth repeating, as we all know what happened to LTC and nearly every other crypto asset in H2 2019.

A new year brings fresh optimism, as crypto markets touch a 2020 high of $212 billion in their largest 12 hour rally of the year.

Litecoin has made over 9% since the beginning of the year and has topped out at $46 during Asian trading today. It is the highest price for LTC in over a month but overall prices are still way down from previous peaks.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Crypto analysts and chart specialist ‘Willy Woo’ has been looking at the Litecoin difficulty ribbon which has finally flipped bullish after six months of steep down trend.

Should setup a bullish breakout of the bearish channel. I wouldn’t be surprised if LTC leads a bullish breakout of BTC.

Litecoin Difficulty Ribbon now in recovery. Should setup a bullish breakout of the bearish channel. I wouldn't be surprised if LTC to leads a bullish breakout of BTC. pic.twitter.com/DRJ5AT65fk

— Willy Woo (@woonomic) January 6, 2020

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

The last time this happened was at the beginning of 2019, a couple of months before that monumental rally. Woo also noted that this has been the largest miner capitulation that Litecoin has ever seen, as hash rates remain at a yearly low of around 150 TH/s.

$50 Barrier Needs to be Broken

Of course there is always a flip side to every price prediction and the same applies to LTC at the moment.

A recent Seeking Alpha article has taken a deeper look into the technical analysis, noting that Litecoin is still in a down trend following its 70% slump from last year’s peak.

The TA is a few days old and doesn’t take today’s rally into consideration but essentially Litecoin needs to break the psychological $50 barrier before it can be considered anywhere near to recovering.

The Litecoin Foundation launched a crowd funding campaign last month to raise $72,000 for network improvements. The move has not gone down well with the community which maintains that LTC founder Charlie Lee should pay for the development himself out of the $200 million he made by selling his entire stash at the peak.

At the moment Litecoin is just moving in the shadows of its big brother and until that changes it is likely to remain bearish.

Will Litecoin fly in the first half of 2020? Add your comments below.


Images via Shutterstock, Twitter @woonomic

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

1 day ago
Elon Musk

Elon Musk To Twitter: Let’s Do A Public Debate On Bots!

1 week ago
Barcelona

Barcelona FC And Socios.com Sign $100 Million Deal For Web3 Push

2 weeks ago
digital payments

 Restrictions On Cash Payments In Israel Prompt Shift To Digital Payments

2 weeks ago
Ethereum

Ethereum Creator Says Facebook’s Metaverse Attempt Will Fail

2 weeks ago
Axie

Axie Infinity CEO Denies Claims Of Insider Trading; Game Token’s Value Down To Zero

2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. 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.