Litecoin managed to ride a small bullish wave in the last hour or so, and is continuing its rise towards the $100 resistance, but the $76 support is still looking to be an apparent reality, this could render our yesterday’s Litecoin price analysis obsolete, but nothing is yet certain.
In fact, most altcoins managed to ride the small bullish wave including Bitcoin, which in some manner puts the BTC market dominance into question, but still, it’s unlikely that this surge is what we’ve been waiting for.
Is this the halving hype?
If it was only Litecoin that managed to surge so quickly among all the other altcoins, then the whole market would be screaming about the halving hype.
However, it’s a fact that all of the markets are on the move, which simply pushed LTC a little bit towards its former glory.
As already mentioned, the $76 support level still remains as the Centrepoint of our Litecoin price analysis for today, meaning that the market is split 50/50 at the moment.
It’s likely that the bullish wave will continue for the rest of the day, only dying down after the European trading session ends, but giving the US session the opportunity to bring it back up.
There is definitely a 1 to 2-hour gap where the support could fail and most prices could collapse, and for that reason, we remain bearish on most altcoins in the near future.