When looking at the more successful altcoins for the current crypto bull market, it is often the newcomers that really make the gains. That said, the blast from the past, in the shape of $BCH and $LITE should not be discounted.
Litecoin (LTC) is one of the original altcoins that came into existence way back in 2015. Also a proof-of-work blockchain like bitcoin, but one that uses a different cryptographic algorithm, and produces more coins, Litecoin became known as the silver to bitcoin’s gold.
Can Litecoin flip resistance into support?
Source: Coingecko/Trading View
On a weekly time frame it is notable that the $LTC price may have managed to flip the resistance into support. Where the price is at the end of play on Sunday will decide whether this has taken place or not.
$LTC uptrend needs to continue
Source: Coingecko/Trading View
Zooming in to the shorter term time frame on the 4-hourly, it can be seen that $LTC is certainly in an uptrend. Also, the price has made a gain, just from 20 February, of as much as 67%. The trend will need to continue if $LTC holders are to be rewarded for their patience.
$BCH bullish move back into up channel
Source: Coingecko/Trading View
In comparison to $LTC, $BCH is doing even better. Measured from the same date, $BCH has risen a total of 175%. Currently, having managed to get back inside the up channel and back above the trend line, $BCH is looking very bullish.
Could $BCH match the 2021 high?
Source: Coingecko/Trading View
Also, on the weekly time frame, it can be seen that if $BCH can get through the resistances up to $805, there is the possibility that the price could even match the high of $1,650 registered in the 2021 bull market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
