- Litecoin LTC is leading Bitcoin in the current uptrend
- Litecoin LTC price posted a 10% rise
- Litecoin LTC/USD rose steadily from the intraday low of $40.01
Litecoin news today – The price of Litecoin LTC has seen a recent spike. This rise in value seems to place the digital asset as the current leading cryptocurrency. LTC appears to be leading the number one digital asset by market cap Bitcoin (BTC). LTC price action is currently signaling a possible bull movement in the coming days. Per analysis done by cryptocurrency commentator Willy Woo, the LTC/USD bears and the BTC bears should watch out for shorting the pairs of crypto. This is because the market is beginning to look very bullish.
Litecoin Price Prediction 2020 – Litecoin LTC Price Posted a 10% Rise
Litecoin news today – The digital currency market is slowly rebounding. The top digital coins are now enjoying an uptrend which is signaling a possible bull movement in the coming days. Assets like Ethereum and Bitcoin Cash have risen. ETH breached the $170 resistance. Meanwhile, Bitcoin Cash and Bitcoin SV grew by 5.64% and 4.04% respectively in preparation for the coming block reward halving. However, Litecoin posted a 10% in the last 24 hours. The LTC/USD trading pair experienced steady growth from its intraday low of $40.01 to its current price of $47.16. Since Monday when the low was posted to press time the coin has posted a 17.8% gain. The current price of LTC is slightly lower than what is posted on its intraday high of $47.82 via Coinbase exchange. The sharp increase in the price of LTC has placed the coin on a bullish path with the 50 SMA, which offers near term resistance positions and is on the verge of getting breached. A breach over the $50.50 position will effectively indicate the start of a bull movement. Interestingly, Litecoin has a single month’s correlation of 0.95 with Bitcoin. Yet it appears to be leading the number one digital asset by market cap at press time.
Litecoin LTC has Gained a Reputation for Always Leading Bitcoin and Altcoins During Bull Run
According to the prominent crypto Twitter influencer, Willy Woo, who is also the Co-founder of Hypersheet, the correlation between BTC and LTC’s price is calling on “shorters” of the trading pair to change their bets. Here is what he wrote on Twitter:
“Litecoin typically has a habit of leading Bitcoin. Shorters are going to lose their bets going by the chart and the rest of the fundamentals for this asset.”
Litecoin (LTC) Price Today – LTC / USD
In addition to this, among the list of the top ten cryptos, correlation is currently at its highest point since the start of January 2020, when the cryptocurrency (Litecoin) boosted to a total market cap of $300 billion. We must wait for the breach above the $50.50 position for LTC/USD before we can expect the bull run to start.