Litecoin signals shine bright with the coin trading around $200 but it did fail to set a new all-time high like BTC, Ethereum, and other coins but clung to the ranks of its entire existence so let’s read some more in our latest Litecoin news today.
The new Litecoin signals shine across other timeframes which could suggest that the long downtrend against BTC is about to come to an end. A few coins had a hard time recovering since the last bull market as LTC did so the only coin that was in the top 10 and had a hard time was XRP with the parent company Ripple still being locked in a legal battle with the SEC. LTC has no issue keeping the prices down but the coin still has to perform better than its 2019 peak but it is not even halfway recovered to the previous ATH around $418 per LTC.
In the meantime, ETH smashed above $2000 and BTC was trading at around $60K per coin with more than three times of its former high. The rise in BTC stagnated in Litecoin which caused the altcoin to drop in terms of the LTCBTC trading pair. With a handful of reversal rings forming as well, this could turn around for the coin for an extended phase. After LTC peaked, it spends nine months in a downtrend against BTC until a TD 9 signal appeared with the altcoin seeing a short-term boost after 2019 halving but then peaked again at a time when it was all about BTC.
After the bear market bounce, the altcoin dropped for another 25 months and ignored the TD 9 instead of hitting a TD 13 countdown on the monthly timeframe. Coinciding with the narrowing pattern of the RSI, an explosive breakout was imminent. The TD 13 also appeared on a powerful timeframe like the LTCBTC quarterly represented in the charts. Zoomed in in the charts below, there’s another TD within the past week on the daily timeframe. Both the 9 and 13 signals suggest that the trend is hitting a point of exhaustion and due to a turnaround but it was already since the daily TD 9 triggered.
The pair is higher now and there’s a new green forming in the sea of red. If the tides turn, BTC will maintain high prices and the cost per LTC will explode as it finally becomes the digital gold counterpart alongside ETH and the rest of the altcoin space.
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