Bitcoin\u2019s firm 2020 uptrend has allowed major altcoins to incur some much-needed momentum, with many major cryptos currently pushing up against key multi-year resistance levels that have been suppressing their price action for years.<\/p>\n
This positive price action over the past month may be enough to break the firm bear market that altcoins have been caught within and lead some major cryptocurrencies \u2013 like Litecoin and others \u2013 to see some massive momentum.<\/p>\n
Most major cryptocurrencies have been closely tracking Bitcoin\u2019s price action over the past several days and weeks, which means that they have largely seen decent sized gains<\/a> over the past 24 to 48 hours.<\/p>\n Currently, Ethereum<\/a> is trading up just over 1% at its current price of $176, which marks a notable climb from recent lows of $170. Litecoin has also posted some slight gains today, climbing 1% to $60.<\/p>\n Over a multi-day period, most altcoins have incurred significantly larger gains than what is reflected in their 24-hour price action, as the bulk of yesterday\u2019s uptrend occurred over 24-hours ago.<\/p>\n This momentum may extend significantly further, however, as analysts are now noting that major altcoins like Litecoin are on the cusp of a notable breakout, with LTC potentially climbing from its current price of 0.006 BTC to 0.008 BTC.<\/p>\n Smokey \u2013 a popular cryptocurrency analyst on Twitter \u2013 spoke about this possibility in a recent tweet, saying:<\/p>\n \u201cLTC | BTC | Daily TF: Planning on longing LTC if it breaks out and retests .006890. Decent upside from there to nearly .008.\u201d<\/p><\/blockquote>\n $LTC<\/a> | BTC | Daily TF<\/p>\n Planning on longing LTC if it breaks out and retests .006890<\/p>\n Decent upside from there to nearly .008 pic.twitter.com\/zyKHQjB8Wg<\/a><\/p>\n — Smokey \u4e00\u76ee\u5747\u8861\u8868 (@SmokeyHosoda) January 28, 2020<\/a><\/p><\/blockquote>\n\n