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Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins’ prices swing higher as bulls secure its position

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Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins' prices swing higher as bulls secure its position
Source: Pixabay

Bitcoin [BTC] and Litecoin [LTC] posted major gains and consolidated above its resistances and exhibited fresh upward trends. The largest crypto asset on CoinMarketCap, BTC, held a market cap of $88.61 billion and was priced at $5,026. BTC registered a 24-hour trading volume of $16.36 billion, at press time. The digital gold rallied by 1.25% against the US dollar over the past 24 hours. However, it recorded a major surge of 21.98% over the past seven days.

Litecoin [LTC], the fourth largest cryptocurrency, registered a market cap of $5.37 billion and a 24-hour trading volume accounting for $3.32 billion. The silver crypto was valued at $87.49 and exhibited a minor rise of 0.02% over the past 24 hours, while registering a rise of 43.12% over the week.

1-day BTC chart

Source: TradingView

Bitcoin’s one-day chart exhibited a major downtrend from $6,459 to $4,186, while no uptrend was observed. The support for the crypto-asset was found at $3,902 and $3,602. The immediate resistance for the BTC daily chart stood at $5,663 and $6,562.

Bollinger Bands: The mouth of the bands was diverging, projecting a potential price breakout for the digital coin.

Awesome Oscillator: The closing bars of the indicator were green and suggested a bullish phase for the coin market.

Chaikin Money Flow: The CMF was well above the zero-line, suggesting that money was flowing into the coin market.

1-day LTC chart

Source: TradingView

The one-day LTC chart exhibited two uptrends from $32.90 to $45.68 and from $45.68 to $60.31, which was followed by a minor correction. A minor downtrend from $56.52 to $34.60 was also observed. The immediate resistance for the coin was found at $90, while the support for LTC stood firm at $28.66 and $23.64.

Parabolic SAR: The dotted markers were oriented below the candles, predicting a bullish phase for the silver crypto.

Klinger Oscillator: The reading line was also above the signal line and pictured a bullish pattern for LTC.

MACD: The MACD line was also above the signal line, suggesting a bullish trend for the coin.



Conclusion

Bitcoin [BTC] exhibited strong bullish projections and was joined by its silver counterpart Litecoin [LTC]. Additionally, BTC was trading above $5,000 and another price rally above the fresh resistances was predicted by the BB indicator.





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Analysis

Litecoin [LTC] smashes $100 valuation for the second time this year

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Litecoin [LTC] smashes $100 valuation; twice in the same year
Source: Pixabay

Litecoin [LTC] posted massive gains and came out as the biggest winner among altcoins as the week came to an end. The digital coin led the altcoin pack towards another bull run.

The latest pump, however, drove the crypto-asset’s price over $100-mark for the second time this year. Subsequently, the silver coin took over EOS to secure its position as the fifth largest crypto-asset by market cap.

As the crypto market started embracing green, many analysts in the space are of the opinion that the “altseason is upon us”. With the latest upswing, LTC became the fourth coin in the top ten with a three-digit valuation after Bitcoin [BTC], Ethereum [ETH], and Bitcoin Cash [BCH].

Source: TradingView

At press time, the coin was priced at $103.4 after surging by 7.93% over the last 24 hours. LTC registered a market cap of $6.40 billion and a 24-hour trading volume of $6.14 billion. Additionally, the digital coin rallied by 17.52% over the past week.

Litecoin was trading highest on Coineal via the trading pair LTC/BTC, accounting for a volume of 11.98%. The crypto-asset exchange was followed by EXX, which held 8.48% of the trading volume via LTC/USDT.



The upcoming Litecoin second halving event, scheduled for August 2019, and institutional adoption of the crypto were attributed to the series of bull domination this year.

Litecoin crashed soon after June 2018 and hit the lowest point at $30 earlier this year. The coin’s market recovery was resisted by bears as it was juggling within the range of $85-$90 before breaking the much-anticipated $100-mark.





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