Litecoin [LTC] Continues Outperformance After Overtaking Bitcoin Cash [BCH]

2018-12-17 17:54

Cryptocurrency Market Cap Rankings

Litecoin recently overtook Bitcoin Cash in the cryptocurrency market cap rankings.

This is likely to be the driving factor in its recent outperformance over the past two days.

With both Bitcoin Cash and Litecoin addressing a similar use case of cheap and fast peer-to-peer payments, Litecoin overtaking Bitcoin Cash represents a current advantage to Litecoin.

Litecoin Daily Chart – Source: Tradingview.com

Litecoin has managed to rise from $23 to above $28 over the past two days, an over 20% increase.

Prior to this move, Litecoin had been undergoing a steep downtrend.

This downtrend started around mid-November when the overall cryptocurrency market entered extremely bearish conditions.

Litecoin Hourly Chart – Source: Tradingview.com

The hourly chart shows the surge in greater detail. After the initial surge, a bearish divergence took place between the price and RSI.

This is where the price continues to form higher highs despite the RSI forming a lower high.

This is typically a trend reversal pattern, but price managed to continue its surge today indicating momentum is strongly on the side of buyers.

Both the RSI and MACD have been increasing today also indicating strong buyer momentum.

Key Takeaways: Litecoin overtakes Bitcoin Cash in the cryptocurrency market cap rankings. Litecoin continues surge today despite forming a trend reversal pattern on the hourly. Momentum is with the buyers as both the MACD and RSI continue to increase. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Litecoin [LTC] Continues Outperformance After Overtaking Bitcoin Cash [BCH] was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Litecoin (LTC) на Currencies.ru

$ 114.66 (-3.59%)
Объем 24H $1.091b
Изменеия 24h: -11.30 %, 7d: -7.62 %
Cегодня L: $114.47 - H: $122.08
Капитализация $8.655b Rank 20
Цена в час новости $ 28.58 (301.19%)

bitcoin litecoin cash overtaking outperformance cryptocurrency continues

Источник: blokt.com

bitcoin litecoin → Результатов: 126


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