{"id":455821,"date":"2021-02-03T01:00:32","date_gmt":"2021-02-03T01:00:32","guid":{"rendered":"https:\/\/wncen.com\/?p=455821"},"modified":"2024-06-11T14:13:06","modified_gmt":"2024-06-11T14:13:06","slug":"five-reasons-why-litecoin-is-ready-to-shine-once-again","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin\/five-reasons-why-litecoin-is-ready-to-shine-once-again\/","title":{"rendered":"Five Reasons Why Litecoin Is Ready To Shine Once Again"},"content":{"rendered":"

Thus far, Litecoin has been among the weakest performers in the cryptocurrency top ten by market cap during this recent altcoin season<\/a>, but that is all about to change.<\/p>\n

Here’s why Litecoin is ready to shine once again and could soon become the stand-out industry leader.<\/p>\n

Why Has Litecoin Lagged Behind The Rest Of The Altcoin Market?<\/h2>\n

Markets are cyclical, and capital flows to and from one asset to another<\/a>. During crypto bear markets, money trends towards the dollar and away from risk.<\/p>\n

Altcoins especially take the brunt of the beating, and Bitcoin holds onto more value gained than others. But when sentiment is positive, altcoins typically outperform Bitcoin<\/a> by a sizable margin, during phases called alt seasons.<\/p>\n

Related Reading | Here\u2019s The Line Separating Bitcoin Dominance From Altcoin Season<\/a><\/strong><\/em><\/p>\n

Another alt season is upon us, and even meme-based assets like Dogecoin are rallying 800% in a single day. Ethereum has set a new all-time high and most other top ten cryptocurrencies by market cap are soaring. Even XRP, a coin now reeling due to being deemed an unregistered security by the SEC, saw a surge<\/a>.<\/p>\n

Meanwhile, one of the oldest coins out there and one that has hung onto the top ten assets by market cap for much of its existence, continues to lag behind the market. But Litecoin could be gearing up for something huge.<\/p>\n

Litecoin has an extremely negative reputation in the crypto market<\/a>, both for its recent failure to produce returns for investors, and due to the coin’s founder dumping holdings at the peak of the last bull market.<\/p>\n

It left a sour taste behind and tarnished the digital silver’s reputation. But technically, and fundamentally, Litecoin is ready to rip.<\/p>\n

Technical And Fundamental Factors To Fuel FOMO For Digital Silver<\/h2>\n

According to data from Grayscale Investments<\/a>, BTC holdings over the last 30 days have increased by more than 40,000 BTC. ETH holdings dropped by 6,000. Grayscale, however, added 150,000 LTC during the same timeframe for bullish signal number one.<\/p>\n

The asset’s supply isn’t quite as scarce as Bitcoin, but at 84 million LTC it is still slim picking for institutions.<\/p>\n

In terms of bullish technicals, Litecoin has broke upward out of a massive, multi-year symmetrical triangle, which projects a target of nearly $700 per LTC.<\/p>\n

\"litecoin<\/p>\n

Litecoin is ready to take off against the dollar | Source: LTCUSD on TradingView.com<\/a><\/pre>\n
Pushing beyond the current resistance level (red) on the USD pair, would also trigger the confirmation of an Adam and Eve bottoming pattern<\/a> (blue).<\/p>\n
Related Reading | Altcoin Season Is Here: \u201cBuy Crypto\u201d Surpases Bitcoin Searches On Google<\/a><\/strong><\/em><\/p>\n
A similar pattern might also be forming on the LTCBTC trading pair, coinciding with a high timeframe falling wedge. Technical indicators are also bullish, with the Relative Strength Index<\/a> potentially exhibiting a hidden divergence, and the monthly MACD nearly crossing upward.<\/p>\n
\"ltcbtc\"<\/p>\n
Upside against Bitcoin is also likely for Litecoin | Source: LTCBTC on TradingView.com<\/a><\/pre>\n
The MACD crossing up<\/a> would indicate that momentum has shifted, and buying could pick up steam. Much like what was the case with Bitcoin and Ethereum, once the assets began to rally, FOMO kicked in and the rest is history.<\/p>\n
Former all-time highs were smashed and each coin has entered price discovery mode. Is that’s what is next for Litecoin?<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Thus far, Litecoin has been among the weakest performers in the cryptocurrency top ten by market cap during this recent altcoin season, but that is all about to change. Here’s why Litecoin is ready to shine once again and could soon become the stand-out industry leader. Why Has Litecoin Lagged Behind The Rest Of The Altcoin Market? Markets are cyclical, and capital flows to and from one asset to another. During crypto bear markets, money trends towards the dollar and away from risk. Altcoins especially take the brunt of the beating, and Bitcoin holds onto more value gained than others. But when sentiment is positive, altcoins typically outperform Bitcoin by a sizable margin, during phases called alt seasons. Related Reading | Here\u2019s The Line Separating Bitcoin Dominance From Altcoin Season Another alt season is upon us, and even meme-based assets like Dogecoin are rallying 800% in a single day. Ethereum has set a new all-time high and most other top ten cryptocurrencies by market cap are soaring. Even XRP, a coin now reeling due to being deemed an unregistered security by the SEC, saw a surge. Meanwhile, one of the oldest coins out there and one that has hung onto the top ten assets by market cap for much of its existence, continues to lag behind the market. But Litecoin could be gearing up for something huge. Litecoin has an extremely negative reputation in the crypto market, both for its recent failure to produce returns for investors, and due to the coin’s founder dumping holdings at the peak of the last bull market. It left a sour taste behind and tarnished the digital silver’s reputation. But technically, and fundamentally, Litecoin is ready to rip. Technical And Fundamental Factors To Fuel FOMO For Digital Silver According to data from Grayscale Investments, BTC holdings over the last 30 days have increased by more than 40,000 BTC. ETH holdings dropped by 6,000. Grayscale, however, added 150,000 LTC during the same timeframe for bullish signal number one. The asset’s supply isn’t quite as scarce as Bitcoin, but at 84 million LTC it is still slim picking for institutions. In terms of bullish technicals, Litecoin has broke upward out of a massive, multi-year symmetrical triangle, which projects a target of nearly $700 per LTC. Litecoin is ready to take off against the dollar | Source: LTCUSD on TradingView.com Pushing beyond the current resistance level (red) on the USD pair, would also trigger the confirmation of an Adam and Eve bottoming pattern (blue). Related Reading | Altcoin Season Is Here: \u201cBuy Crypto\u201d Surpases Bitcoin Searches On Google A similar pattern might also be forming on the LTCBTC trading pair, coinciding with a high timeframe falling wedge. Technical indicators are also bullish, with the Relative Strength Index potentially exhibiting a hidden divergence, and the monthly MACD nearly crossing upward. Upside against Bitcoin is also likely for Litecoin | Source: LTCBTC on TradingView.com The MACD crossing up would indicate that momentum has shifted, and buying could pick up steam. Much like what was the case with Bitcoin and Ethereum, once the assets began to rally, FOMO kicked in and the rest is history. Former all-time highs were smashed and each coin has entered price discovery mode. Is that’s what is next for Litecoin? Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":455822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16897],"tags":[134,6664,10,2828,2831,67259,79510],"class_list":["post-455821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-altcoin","tag-crypto","tag-litecoin","tag-ltc","tag-ltcusd","tag-ltcbtc","tag-ltcusdt"],"acf":[],"yoast_head":"\nFive Reasons Why Litecoin Is Ready To Shine Once Again<\/title>\n<meta name=\"description\" content=\"Thus far, Litecoin has been among the weakest performers in the cryptocurrency top ten by market cap during this recent altcoin season, but that is all\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Five Reasons Why Litecoin Is Ready To Shine Once Again","url":"http:\/\/wncen.com\/news\/litecoin\/five-reasons-why-litecoin-is-ready-to-shine-once-again\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/litecoin\/five-reasons-why-litecoin-is-ready-to-shine-once-again\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/bitcoin-litecoin-crypto-grayscale-Depositphotos_12569702_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/bitcoin-litecoin-crypto-grayscale-Depositphotos_12569702_xl-2015-scaled.jpg?fit=2560%2C1920"},"articleSection":"Litecoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","litecoin","ltc","ltc\/usd","ltcbtc","ltcusdt"],"dateCreated":"2021-02-03T01:00:32Z","datePublished":"2021-02-03T01:00:32Z","dateModified":"2024-06-11T14:13:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Five Reasons Why Litecoin Is Ready To Shine Once Again\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin\\\/five-reasons-why-litecoin-is-ready-to-shine-once-again\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/litecoin\\\/five-reasons-why-litecoin-is-ready-to-shine-once-again\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/bitcoin-litecoin-crypto-grayscale-Depositphotos_12569702_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/bitcoin-litecoin-crypto-grayscale-Depositphotos_12569702_xl-2015-scaled.jpg?fit=2560%2C1920\"},\"articleSection\":\"Litecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"litecoin\",\"ltc\",\"ltc\\\/usd\",\"ltcbtc\",\"ltcusdt\"],\"dateCreated\":\"2021-02-03T01:00:32Z\",\"datePublished\":\"2021-02-03T01:00:32Z\",\"dateModified\":\"2024-06-11T14:13:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/bitcoin-litecoin-crypto-grayscale-Depositphotos_12569702_xl-2015-scaled.jpg?fit=2560%2C1920","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/455821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=455821"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/455821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/455822"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=455821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=455821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=455821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}