{"id":569319,"date":"2024-01-12T23:00:17","date_gmt":"2024-01-12T23:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=569319"},"modified":"2024-01-12T17:09:46","modified_gmt":"2024-01-12T17:09:46","slug":"litecoin-explode-outperform-bitcoin-analyst-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/litecoin\/litecoin-explode-outperform-bitcoin-analyst-bullish\/","title":{"rendered":"Litecoin About To Explode And Outperform Bitcoin? Analyst Is Super Bullish"},"content":{"rendered":"

Litecoin, a cryptocurrency often referred to as the “silver to Bitcoin’s gold,” is gaining traction among analysts who predict its potential to outperform Bitcoin shortly.\u00a0<\/span><\/p>\n

Tony “the Bull,” a certified chartist and the Head of Research at NewsBTC, took to X on January 12, laying out a bullish outlook for the <\/span>18th most valuable<\/span><\/a>\u00a0cryptocurrency. Citing its monthly candlestick formations, the analyst said what’s panning out are signs of an imminent breakout that could propel the coin higher in the coming weeks.<\/span><\/p>\n

Related Reading: Cardano\u2019s 2024 Kickoff: First Two Weeks Show Major Updates, Report<\/a><\/div>\n

Litecoin About To Rip Higher?<\/span><\/h2>\n

Specifically, Tony “The Bull” said what’s printing out in the monthly chart is “insanely bullish” for Litecoin. This outlook is warming for Litecoin Bulls, considering its drab performance in 2023 when prices consolidated before tanking in the second half.\u00a0<\/span><\/p>\n

\"LTC<\/p>\n

The researcher also shared another chart, predicting that the crypto community is “close to witnessing something impressive.” The analyst’s enthusiasm echoes earlier <\/span>assessment<\/span><\/a>\u00a0of Litecoin’s “SuperTrend” indicator, which seems to suggest significant price gains for Litecoin in the coming sessions.<\/span><\/p>\n

\"LTC
LTC supertrend | Source: Tony “The Bull” via X<\/figcaption><\/figure>\n

Litecoin remains within a bearish formation, consolidating, as evident in the monthly chart. Of note, prices are still trending inside the bear bar of August 2023. Despite general optimism, Litecoin bulls have yet to reverse those losses and remain within a tight, flat-lining range, as evident in the monthly chart.\u00a0<\/span><\/p>\n

Still, Litecoin might set a fresh trend depending on the breakout direction. Any upswing above $115 might ignite demand that may lift the coin towards May 2021 highs of around $400.<\/span><\/p>\n

Spot Bitcoin ETF Didn’t Push BTC Above $50,000<\/span><\/h2>\n

Tony “The Bull”‘s bullish sentiment on Litecoin comes as Bitcoin, the world’s largest cryptocurrency, is trending lower, looking at the performance in the daily chart. Despite the US Securities and Exchange Commission (SEC<\/a>) approving 11 spot Bitcoin ETFs, Bitcoin prices have failed to break above the $50,000 resistance level.\u00a0<\/span><\/p>\n

For now, the crypto community remains bullish. Bitcoin supporters earlier claimed the approval of spot Bitcoin ETFs would trigger billions into the coin and broadly the sphere. The derivative product provides a legal channel for institutions to invest in Bitcoin. Still, the SEC chair Gary Gensler maintained that Bitcoin is a speculative asset\u00a0<\/span>despite<\/span><\/a>\u00a0the agency’s approval.<\/span><\/p>\n

Related Reading: XRP Burn Hits Major Milestone, Can The Burns Propel Price To $1?<\/a><\/div>\n
\"LTCBTC<\/a>
LTCBTC chart trending upward on the daily chart | Source: LTCBTC on Binance, TradingView<\/a><\/figcaption><\/figure>\n

In contrast to Bitcoin’s lackluster performance, Litecoin has shown resilience, maintaining a firm stance amidst market volatility. This development suggests that Litecoin may be poised to outperform Bitcoin in the coming months. The LTCBTC chart shows Litecoin is up 21% versus Bitcoin, rallying from January lows.\u00a0<\/span><\/p>\n

Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Litecoin, a cryptocurrency often referred to as the “silver to Bitcoin’s gold,” is gaining traction among analysts who predict its potential to outperform Bitcoin shortly.\u00a0 Tony “the Bull,” a certified chartist and the Head of Research at NewsBTC, took to X on January 12, laying out a bullish outlook for the 18th most valuable\u00a0cryptocurrency. Citing its monthly candlestick formations, the analyst said what’s panning out are signs of an imminent breakout that could propel the coin higher in the coming weeks. Related Reading: Cardano\u2019s 2024 Kickoff: First Two Weeks Show Major Updates, Report Litecoin About To Rip Higher? Specifically, Tony “The Bull” said what’s printing out in the monthly chart is “insanely bullish” for Litecoin. This outlook is warming for Litecoin Bulls, considering its drab performance in 2023 when prices consolidated before tanking in the second half.\u00a0 The researcher also shared another chart, predicting that the crypto community is “close to witnessing something impressive.” The analyst’s enthusiasm echoes earlier assessment\u00a0of Litecoin’s “SuperTrend” indicator, which seems to suggest significant price gains for Litecoin in the coming sessions. Litecoin remains within a bearish formation, consolidating, as evident in the monthly chart. Of note, prices are still trending inside the bear bar of August 2023. Despite general optimism, Litecoin bulls have yet to reverse those losses and remain within a tight, flat-lining range, as evident in the monthly chart.\u00a0 Still, Litecoin might set a fresh trend depending on the breakout direction. Any upswing above $115 might ignite demand that may lift the coin towards May 2021 highs of around $400. Spot Bitcoin ETF Didn’t Push BTC Above $50,000 Tony “The Bull”‘s bullish sentiment on Litecoin comes as Bitcoin, the world’s largest cryptocurrency, is trending lower, looking at the performance in the daily chart. Despite the US Securities and Exchange Commission (SEC) approving 11 spot Bitcoin ETFs, Bitcoin prices have failed to break above the $50,000 resistance level.\u00a0 For now, the crypto community remains bullish. Bitcoin supporters earlier claimed the approval of spot Bitcoin ETFs would trigger billions into the coin and broadly the sphere. The derivative product provides a legal channel for institutions to invest in Bitcoin. Still, the SEC chair Gary Gensler maintained that Bitcoin is a speculative asset\u00a0despite\u00a0the agency’s approval. Related Reading: XRP Burn Hits Major Milestone, Can The Burns Propel Price To $1? In contrast to Bitcoin’s lackluster performance, Litecoin has shown resilience, maintaining a firm stance amidst market volatility. This development suggests that Litecoin may be poised to outperform Bitcoin in the coming months. The LTCBTC chart shows Litecoin is up 21% versus Bitcoin, rallying from January lows.\u00a0 Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":569320,"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":[428,679,10,2785,2828,79510,84647],"class_list":["post-569319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-bitcoin","tag-bitcoin-price","tag-litecoin","tag-litecoin-price","tag-ltc","tag-ltcusdt","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\nLitecoin About To Explode And Outperform Bitcoin? 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin About To Explode And Outperform Bitcoin? 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