Litecoin price analysis 24 July 2019 data; LTC on the rise but is it short lived?

Litecoin price analysis 18 May 2019

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.

Within just an hour, LTC managed to gain as much as 5% in its valuation, but still can’t compare to altcoins like EOS, which is nearing a 10% increase.

Litecoin price analysis

Litecoin Chart by Trading View

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.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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