Litecoin Surges 6% Intraday as it Signals New Uptrend, Outperforming Bitcoin
Litecoin emerged as one of the crypto market leaders today, experiencing a 6% surge intraday while Bitcoin remained flat. This single-day rally in LTCUSD could potentially generate a near-term buy signal using the Bollinger Bands. The implications for the altcoin could be significant, signaling the beginning of a more positive trend.
Historically, Litecoin has been a challenging asset to hold. Back in 2017, Litecoin, often referred to as the silver to Bitcoin’s digital gold, embarked on a monumental nine-month rally. During this period, Litecoin’s value skyrocketed over 10,000%, propelling it into the top ten cryptocurrencies by market cap.
Since those glory days, much has changed. Currently ranked number 18 by market cap, Litecoin is barely holding onto its top 20 status. For the past seven years, since the 2017 bull run, the altcoin has mostly trended sideways, leading to considerable disappointment among investors. The latest price movement, however, could be a glimmer of hope for those who have held onto their Litecoin through its turbulent journey.
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