Litecoin Massive Rally Could Soon Come Despite Lackluster Price Action

A Litecoin massive rally could soon come and hit the market despite its lackluster price action and the fact that it was recently seen as a bad performer on the market as investors see it as the inferior version of Bitcoin. In today’s litecoin news, we are reading more about the price analysis.

LTC is still one of the early crypto assets that have decent liquidity and listings across all the major exchanges. As such, when the new wave of investors enters the ecosystem, they usually throw money into the tokens like Litecoin thus helping them to rocket higher. One analyst noted that it could be time for this crypto asset to see some immense upwards movement. The analyst thinks that Litecoin shows signs of strength from a technical perspective since the bulls are pushing above one key level. He also noted that he doesn’t post any special reaction to a Bitcoin sell-off. As such, LTC could be positioned to see more momentum upwards in the near-term.

With all that being said, placing your bets on Litecoin is a bet on new investors that are considering entering the market and allocating money into new tokens that are listed on major exchanges. The crypto market was recently caught in the immense uptrend over the past few weeks when Bitcoin rocketed from the recent sub -$10,000 levels that were set a few months ago to new highs of $16,500 which was set yesterday. Where will the market trend next in the near-term depend on whether or not BTC is able to post a high time frame near the newly acquired $16,000 resistance level.

At the time of writing, a Litecoin massive rally looks like is forming with the price nearing $63. LTC is down from the daily highs of .
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00 but it is still up from the recent lows of $57. While sharing his opinion on the near-term outlook on the altcoin, one analyst explained that it could soon see more upsides. He pointed out to the strength despite Bitcoin’s downturn as a reason which could lead to Litecoin higher.

 “I am once again long LTC. Minimal reaction to BTC’s dump last night, kept its composure, didn’t even wick below the trendline. To be honest, if I didn’t see the volume on CMC, I would think this coin is dead the way it moves, but maybe it’s time is coming.”

If LTC starts gaining momentum, we should expect to see more inflow of capital from new investors that help push the price higher.