Bitcoin’s journey to $22K left the entire world stupefied. The king coin made sure to take all the other coins, reserving special tickets for Litecoin [LTC], XRP as well as Ethereum [ETH]. Bitcoin [BTC] was almost unstoppable as the coin seemed to be stuck on hitting $23K. At press time, BTC was trading for $22,905.01 with an 18% rise. XRP seemed to be eyeing $1 as the altcoin was soaring by 23.01% over the last 24-hours. The global crypto market cap was also on a roll and was in sync with the ongoing sentiment. With a 13.91% daily increase, the overall market cap of the crypto-verse was noted at $643.45 billion.
Litecoin seemed to be closely following the footsteps of the king coin. LTC, at the time of writing, was priced at $94.14 with a 17.19% surge over the last 24-hours. Throughout the year, the coin was seen all the way down at the tenth position several times, however, the coin regained stature and rose up to the fifth place with a market cap of $6.15 billion.
Litecoin [LTC] One Hour Price Chart
$94 and $95 have been strong resistance lines for LTC, however, the ongoing bull run could help the altcoin break the latter. The pattern formed in the one hour price chart of the asset was pointing at the bulls. The ascending triangle pattern was identified by higher highs at $83.61, $91.17, and $94.81. Higher lows laid down the lower trend line at $81.66, $91.23 as well as $92.42. The direction of a breakout with the aforementioned pattern is usually upwards.
The daily moving average was seen grazing with the bulls as the 50 daily moving average [blue] was above the 100 daily moving average [orange]. This crossover usually indicates the presence of bulls in the LTC market.
Litecoin [LTC] With Key Indicators
All the signs were pointing at bulls for Litecoin. The key indicators used in the one hour chart of LTC were seen taking the side of the bulls. The Bollinger Bands indicator was seen wide apart, yet the bands were diverging which could indicate a decrease in volatility. The Awesome Oscillator indicator formed a green closing bar which suggested the presence of bulls in the LTC market.