Litecoin [LTC] Could Be Aiming For $250 As Bulls Aid This Journey

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XRP Poised for a 50% Move Defined by Two Crucial Price Levels

February 16th 2021

The bulls were seen raging the crypto market. Bitcoin (BTC) as well as Litecoin (LTC) the oldest assets were seen taking charge and spearheading the bull run. Both these assets struggled long and hard to move past prominent lines it resistance.  the market cap of the industry was seen pushing past a high of $1.50 trillion. Bitcoin was undoubtedly accounting for most of it. At press time, BTC’s market cap stood at $913 billion, still ahead of Tesla and Facebook.

XRP on the other hand seemed to have given up its spot as the fourth-largest cryptocurrency. Cardano (ADA) took over the altcoin’s fourth position, whereas Polkadot (DOT) captured the fifth position. Binance Coin (BNB) seemed to be the next in line to precede the troubled coin. 

Litecoin (LTC) was standing as the seventh-largest crypto asset with its market cap of $14.13 billion. At the time of writing, LTC was trading for a whopping $212.47. The altcoin’s push beyond $200 had been pursued a while now by the LTC community. Things seemed to be bright in the LTC market as the altcoin was surging over 7% in the last 24 hours. However, the question lies in the persistence of this trend. 

Litecoin [LTC] Three-Hour Price Chart

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The three-hour price chart of LTC suggested that the bears could hinder the altcoin’s growth in the short term. The Bollinger Bands indicator revealed that there would be limited volatility in the LTC market as the bands were diverging, The MACD line was below the signal line which announced the presence of bears. The Stochastic RSI indicator was seen exhibiting a buyers’ notion.

Litecoin [LTC] One-Day Price Chart

Litecoin

The one-day price chart of LTC suggested that the bulls were still in the LTC market. The Parabolic SAR indicator with dotted lines below the candlesticks was seen holding the asset from plummeting below $200. The Awesome Oscillator had laid out green closing bars which pointed out at a bullish momentum. The Money Flow Index indicator was seen in the buyers’ arena.

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