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Litecoin has recently surpassed Bitcoin Cash in the ranking of capital cap for cryptocurrency.
This is probably the driving factor of its recent outperformance over the past two days.
With Bitcoin Cash and Litecoin facing a case of similar use of cheap and fast peer-to-peer payments, Litecoin which has exceeded Bitcoin Cash represents a current advantage for Litecoin.
Litecoin managed to rise from $ 23 to over $ 28 in the last two days, with an increase of over 20%.
Before this move, Litecoin had undergone a strong downward trend.
This bearish trend began in mid-November, when the overall cryptocurrency market reached extremely bearish conditions.
The hourly chart shows the wave in greater detail. After the initial wave, there was a bearish divergence between the price and the RSI.
This is where the price continues to form higher highs even though the RSI forms a lower minimum.
This is typically a turnaround pattern, but the price has managed to continue its wave today, indicating that momentum is strongly on the side of buyers.
Both the RSI and the MACD have increased today and also indicate a strong impulse to the buyer.
Key Takeaways:
- Litecoin surpasses Bitcoin Cash in the ranking of capital cap for cryptocurrency.
- Litecoin continues to rise today despite forming a turnaround every hour.
- Momentum is with buyers as both MACD and RSI continue to increase.
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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