Bitcoin & Litecoin: prices are on the rise
Litecoin is one of the largest cryptocurrencies in the encryption world because it is one of the top ten cryptocurrencies. Encryption is often considered a lightweight bitcoin because it is technically almost the same as BTC, faster and cheaper. It is worth noting that, based on market capitalization, Litecoin is the seventh largest cryptocurrency, carried by different exchanges around the world.
The litecoin price has steadily increased to a price of $60; however, most of its activities are affected by bitcoin market activity. Bitcoin has recently increased to $6,800, so Litecoin is also true.
Bitcoin is currently steadily moving, moving its price in the 1-hour market chart from $6,200 to $6,580. Also in the BTC's 1-hour chart, the BTC 20 WMA is quoted at $6,630. Subsequently, Bitcoin's MACD is building momentum for the bullish run.
In the BTC 4-hour market chart, four resistance levels were created from the previous bear market trend: $7,370, $7,000, $6,900 and $6,700. The BTC's stochastic indicator also shows that Bitcoin is overbought, and we may soon see a bullish trend, even though bitcoin market chart shows it is in a symmetrical triangle.
If Bitcoin breaks through its symmetrical triangle - outside (E), this will have a positive impact on Litecoin's price and help LTC break through its uptrend.
Technical analysis of Bitcoin points to bullish forecasts for the next few days. However, the overall important resistance to the breakout is the $6,800, $7,000 and $7,300 price tag.
Even though LTC is close to resistance level 66 (the resistance level of the uptrend channel, 100% Fibonacci extension) and may fall sharply below this level, dragging prices down to 57, 76.4% Fibonacci retracement and 100% Fibonacci The important support level of the extension of the deed is very likely to happen suddenly.
Stochastics (55, 53) still see bearish divergence and approach resistance, and reactions below this level may see corresponding price declines, but bitcoin breakthroughs will also affect Litecoin LTC.
Regarding price forecasts, many crypt analysts believe that Litecoin will reach a price of $500. If you want to look at Litecoin, you will find it performs well.
At the time of this writing, LTC is priced at $59.80 and has a market capitalization of $3,504,111,177. Today, many institutional investors are investing in cryptocurrencies, so Litecoin's daily transactions have increased.
According to its price forecast, it is safe to say that it is the right time to invest in Litecoin. Of course, you shouldn't spend more than you can afford, but the encryption market is very unstable. This is a fact we shouldn't forget, no matter what it is at a given time.
In general, Bitcoin and Litecoin have a bullish sentiment, and the price of these coins will exceed the current price.
Bitcoin coin is now expected to rise steadily until the end of the year. In the case of Litecoin, if it can reach a price of more than $60, it may rise further to $70 or higher. As a result, LTC is now able to maintain $60 in a few days; in the next few days, LTC prices will be positive - but investors need to wait patiently.