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Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins surge as bulls continue to push market to new heights

Biraajmaan Tamuly

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Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Massive surge continues in the market as tokens prosper
Source: Pixabay


The Bitcoin bull run took the cryptocurrency market by surprise, following which several tokens’ valuation collectively surged. Bitcoin [BTC] and its silver counterpart, Litecoin [LTC], witnessed a massive price hike in the last few days. At press time, the largest cryptocurrency in the world recorded a market cap of $86 billion and was priced at $4,920 with a 9.31% hike against the US Dollar.

Charlie Lee’s Litecoin [LTC] hiked by a massive 23.93% against the US Dollar over the last 24 hours, while the trade volume was $5.2 billion. The token was priced at $80.11, at press time, with a market capitalization of $4.8 billion.

Bitcoin 1-day chart

Source: Trading View

Bitcoin blew past its resistance at $4212.2, while witnessing a major uptrend. The hike extended from $4062.70 to $4935.53, at press time.

The Bollinger Bands marked a volatile price period for the token as the bands were diverging.

The MACD line projected a dominant bullish period for the coin as the blue line remained significantly above the red line in the chart.

The Relative Strength Index indicated the dominance of the buying pressure, as the token was significantly overbought.

Litecoin 1-day chart

Source: Trading View

Litecoin’s [LTC] 1-day chart was bullish as the price valuation kept increasing without major price fall. The long term uptrend for the token extended from $40.059 to $80.11. The token also surged past its long term resistance at $63.68.

The Parabolic SAR indicated a bullish wave as the dotted markers were placed below the candlesticks.

The Fisher Transform indicator was bullish as the blue line hovered over the red line.

The Awesome Oscillator or AO represented high bullish momentum for the token as the green bars towards its end were surging.

Conclusion

Bitcoin [BTC] and Litecoin [LTC] were among top gainers in the market and all indicators suggested that the bull run was likely to continue.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

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