Litecoin Rebounds Above $70, Potential Bullish Run Ahead

Litecoin (LTC) has shown signs of resurgence, climbing back above the $70 mark for the first time since January 22nd. Currently trading at $71.22, LTC has recorded a notable 3% gain in the past 24 hours.

⚡️📈 #Litecoin has had a mild emergence, rebounding back above $70 for the first time since January 22nd. For now, trading volume is rather dormant for the #19 ranked market cap asset. But monitor $LTC, as isolated pumps are often predecessors for $BTC. https://t.co/xViUwnLeOt pic.twitter.com/BO8u1moQNN

— Santiment (@santimentfeed) February 9, 2024

The relative strength index (RSI) for LTC has reached its highest level in 2 months, indicating increasing bullish momentum. Despite this, there has been no significant volume reaction to LTC’s decoupling from other assets.

Trading volume for LTC, currently ranked #19 in market cap, remains relatively subdued. However, there are indications that LTC could be gearing up for a bullish run, as isolated pumps often precede similar movements in Bitcoin.

Can Litecoin Give Better ROI Than Bitcoin In The Next Cycle?

Litecoin, renowned for being fair, fast, and user-friendly, is set to expand its presence by joining the Limercoin universe in the near future. Analysts have predicted that Litecoin may outperform Bitcoin significantly in the upcoming bull season. 

The LTC network has already demonstrated its strength during this cycle, with its price currently trapped in the same accumulation triangle pattern observed in 2015, 2019, and 2023.

It’s about to get crazy. Litecoin should dramatically outperform Bitcoin, its network already has this cycle. Price is just stuck in the same accumulation triangle similar to 2015, 2019 and 2023…

There are so many narratives around litecoin, the biggest of course could be that… pic.twitter.com/MqMMuquMwS

— master Ⓜ️🕸 (@MASTERBTCLTC) February 8, 2024

As investors closely monitor Litecoin’s performance, there is anticipation of potential price surges and increased market activity.

The cryptocurrency community eagerly awaits further developments and milestones in Litecoin’s journey, poised to capitalize on the promising opportunities presented by this digital asset.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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