Newsletter
SHIB Army NEWS
  • Home
  • SHIB Chart
  • SHIB Calculator
  • SHIB Twitter
  • SHIB Events
  • Donate
No Result
View All Result
  • Home
  • SHIB Chart
  • SHIB Calculator
  • SHIB Twitter
  • SHIB Events
  • Donate
No Result
View All Result
SHIB Army NEWS
No Result
View All Result
Home SHIB

Litecoin breaks out of channel following Bitcoin’s climb

Benson Toti by Benson Toti
October 28, 2021
in SHIB
0
Litecoin breaks out of channel following Bitcoin’s climb
72
SHARES
1.2k
VIEWS
Share on FacebookShare on TwitterRedditEmail

Litecoin pushed more than 10% into the green following Bitcoin’s run to $11k

Crypto market outlook

Bitcoin’s latest spike in trading price is having a positive impact on that of Litecoin, the altcoin that is often dubbed silver to the crypto king’s gold.

Related articles

Do Dogecoin’s (DOGE) and Shiba Inu’s (SHIB) stalled rallies mean the memecoin trend is dead?

Do Dogecoin’s (DOGE) and Shiba Inu’s (SHIB) stalled rallies mean the memecoin trend is dead?

February 3, 2023
Not today scammer

Not today scammer

February 3, 2023

While Ethereum has struggled in the last few hours after trailing Bitcoin’s march to $10k, Litecoin has broken out of its tight channel to post a remarkable upside over the past 48 hours.

ETH/USD has soared by more than 30% over the past week to trade above $330. However, increased selling pressure during the Asian trading session has pushed its price about 3% down on the day to currently see it exchange hands at $315.

The price of Ripple’s XRP token is up by 2.3% in the past 24 hours, while BCH/USD and BSV/USD have both spiked by nearly 6%.

Litecoin is nonetheless seeing the most gains, with the LTC/USD pair spiking more than 10% in the past 24 hours.

As of writing, the pair is trading at $53.50, so bulls are likely to aim at consolidating support above $50 to help propel the price higher should Bitcoin explode above $12,000.

Litecoin price analysis

Similar to Bitcoin, the price of Litecoin has also just broken out of a tight channel that had capped prices for the past several weeks. The surge above $50 is the first time the cryptocurrency has traded above the level since March 8, 2020, and represents LTC/USD’s best period since the run from lows of $40 to highs of $49 at the end of April.

LTC/USD price chart. Source: TradingView

LTC/USD on the upside will very much follow the pattern of higher highs and higher lows that Bitcoin posts.  Key price levels are the resistances at $57.107, $61.208, and $66.38. Above that, Litecoin bulls face minimal resistance and the price could hit February highs of $83.

The technical picture is strengthened by the MACD indicator that is well-placed above the Signal line. The Parabolic SAR on the daily chart is also bullish for the altcoin, with the dotted markers giving it room to expand as they cut well below the price candles.

LTC/USD daily price chart. Source: TradingView

However, a run to higher price levels depends on whether bulls will hold gains above $50. If there’s a bearish breakdown, bulls may rely on major support at $48.179 and $43.00. These levels are critical to keeping levels where they are to avoid a scenario where a rejection sends prices back below a long term descending trendline.

The post Litecoin breaks out of channel following Bitcoin’s climb appeared first on Coin Journal.

Share29Tweet18ShareSend
Previous Post

Dave Portnoy’s shilling of altcoins stokes controversy

Next Post

Litecoin remains bearish while record dormant coins move

Related Posts

Do Dogecoin’s (DOGE) and Shiba Inu’s (SHIB) stalled rallies mean the memecoin trend is dead?

Do Dogecoin’s (DOGE) and Shiba Inu’s (SHIB) stalled rallies mean the memecoin trend is dead?

by Benson Toti
February 3, 2023
0

Absent shill and bullish newsflow, DOGE and SHIB have struggled to keep up with the wider crypto market rally that...

Not today scammer

Not today scammer

by Benson Toti
February 3, 2023
0

submitted by /u/hybredxero

Binance’s Significant Move Transferring 6.4T Shiba Inu Without Affecting Price

Binance’s Significant Move Transferring 6.4T Shiba Inu Without Affecting Price

by Benson Toti
February 3, 2023
0

submitted by /u/Glass_Pace_2200

Know Everything About the Relationship of SBF and CZ With This New Documentary

Know Everything About the Relationship of SBF and CZ With This New Documentary

by Benson Toti
February 3, 2023
0

submitted by /u/coingabbarupdate

Go Shiba

by Benson Toti
February 3, 2023
0

submitted by /u/MpressLady

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

shiba-inu Shiba Inu
$0.000013
$0.000013
EUR: €0.000012
GBP: £0.000011
7D Chart4.42%
Categories
  • SHIB
  • SHIB Reddit
Tags
Featured kickex Shiba whitebit

© SHIB Army News

No Result
View All Result
  • Home
  • SHIB Chart
  • SHIB Calculator
  • SHIB Twitter
  • SHIB Events
  • Donate

© 2021 SHIBArmy.news

  • bitcoinBitcoin(BTC)$23,539.00
    BITCOIN
    24H : -1.21%
    Volume : $43,620,095,319.00
    Marketcap : $453,788,370,913.00
  • ethereumEthereum(ETH)$1,649.91
    ETHEREUM
    24H : -1.47%
    Volume : $10,947,465,820.00
    Marketcap : $198,771,070,940.00
  • tetherTether(USDT)$1.000
    TETHER
    24H : -0.06%
    Volume : $54,636,307,538.00
    Marketcap : $68,100,960,099.00
  • binancecoinBNB(BNB)$331.60
    BNB
    24H : 0.360%
    Volume : $248,749,748.00
    Marketcap : $44,809,481,049.00
  • cardanoCardano(ADA)$0.403
    CARDANO
    24H : -0.87%
    Volume : $443,167,879.00
    Marketcap : $14,130,132,705.00
  • dogecoinDogecoin(DOGE)$0.092
    DOGECOIN
    24H : -2.01%
    Volume : $882,897,212.00
    Marketcap : $12,765,373,879.00
  • shiba-inuShiba Inu(SHIB)$0.000013
    SHIBA INU
    24H : 4.42%
    Volume : $780,052,543.00
    Marketcap : $7,410,071,400.00