Litecoin Preparing for a 2x Rally While This Altcoin Wakes Up From a Prolonged Consolidation’s-What’s Next!
The post Litecoin Preparing for a 2x Rally While This Altcoin Wakes Up From a Prolonged Consolidation’s-What’s Next! appeared first on Coinpedia Fintech News
The Bitcoin price inched close to $100K and after facing a small pullback, it is hovering within a range. In the meantime, the top altcoins that performed well in the 2021 bull run, like Litecoin & Polkadot, have triggered a fresh bullish run. Both the tokens have reached pivotal levels and hence are believed to trigger a fresh bullish run in the coming days.
Litecoin has been considered one of the most undervalued tokens as being the first altcoin after Bitcoin; the token maintained a sluggish trend for quite a long time. During the 2021 bull run, the price managed to rise by over 1500% and hence the price is expected to display a more aggressive upswing in the upcoming bull run.
The LTC chart in the long term suggests the trend has just shifted in favour of the bulls as the Ichimoku cloud displayed the end of the selling pressure. Besides, the supertrend has just flipped from bearish to bullish, suggesting the start of a fresh bullish trend. However, the Litecoin price has entered a pivotal range between $101.43 and $106.33 and reached the neckline of the double-bottom pattern. A push from this range could elevate the levels close to $130, which could further elevate the levels above $155.
On the other hand, the Polkadot (DOT) price triggered a massive run and a rise above the prolonged descending trend. After being stuck in a descending trend, the price has failed to gain the double-digit figure, which is expected to reach in a short while from now.
The DOT price traded within a parallel channel and after rebounding from the lows, it surged close to 100% to reach the average bands. The MACD has turned bullish after a long time, with the RSI reaching the upper threshold. Once these levels enter the overbought zone, the DOT price is expected to revamp a strong rise and hit the resistance at $13.24, surpassing the yearly highs at around $10.