The entire crypto market was painted green with almost every coin recording a surge. Litecoin [LTC], Binance Coin [BNB], Polkadot [DOT] as several others were seen on an uphill journey. Bitcoin was once again seen trying to break its recently achieved all-time high of $23,6642.66. During press time, the king coin was trading for $23,130.05. After achieving exponential growth throughout the week, XRP was seen taking a break as it was dwelling with the bears.
Litecoin [LTC] was undoubtedly in sync with Bitcoin’s price movement. The digital silver turned several heads after surging past $100. At the time of writing, the asset was trading for $112.88 with a 4.01% surge over the last 24-hours. LTC was the star of the latest bull run as it managed to bag gains of over 48.22% in the course of the past week.
Litecoin [LTC] One Hour Price Chart
The one hour price chart of Litecoin [LTC] had formed a symmetrical triangle pattern. The pattern was laid out by an upper trend line which consisted of lower highs at $112.05, $110 as well as $108.91. This was followed by higher lows at $102.50, $105.52, and $105.71 formulating the lower trend line. The direction of breakout during this pattern is usually uncertain, however, the indicators used in the chart revealed the fate of the asset.
The daily moving average indicator pointed out a bullish sentiment in the LTC market. The 50 daily moving average [Blue] was seen lounging above the 100 daily moving average [Red]. This crossover is noted to be a bullish one.
Litecoin [LTC] With Key Indicators
In the price chart of Litecoin, all the indicators were pointing towards the bulls. LTC seemed to be packing for a long journey uphill. The Bollinger Bands indicator suggested an increase in volatility as the bands were seen diverging after a brief convergence. The MACD indicator also underwent a bullish crossover like the daily moving average. The MACD line was seen climbing above the signal line after its stay below the signal line for quite a while.