Although LightCoin has always been among the top 10 currencies in the market, in 2020 and 2021, we saw very poor performance of this digital currency; But the situation seems to be changing. According to experts, LightQueen can re-enter the uptrend.
to the Report Newsbit, the Litecoin / Bitcoin currency pair, is in a position to experience a very strong jump. Experts say the jump will be short-term and medium-term, and LightQueen’s technical situation is ready for the fluctuations.
Long history in the top 10 currencies in the market
The digital currency market is constantly changing. Looking at the table of currencies, it is easy to see that we have witnessed extensive changes compared to last year. Digital currencies, which were in the top 10 in the previous uptrend cycle, are no longer shining.
For example, Ripple, which has long been ranked 3rd in the market, fell to close to 10th in this year’s uptrend. It is worth noting that this digital currency has been largely revived.
Like Ripple, LightCoin has been one of the most overlooked currencies. LightQueen, known as digital silver, has not yet reached a new historical peak; But experts believe that the technical condition of this digital currency is such that it is time!
Litecoin is ready to jump in the monthly timeframe
LightCoin, which uses a bit of bitcoin code in its structure, has always been known as digital silver. Bitcoin as digital gold has managed to reach its market value of more than $ 1 trillion, but LightCoin is moving a long way from Bitcoin. However, technical indicators show a significant growth of Litecoin against Bitcoin.
If the change in the Litecoin trend starts now and completely, it can be said that the TD 13 index shows the price with the strength of the floor. On the other hand, the Stochastic Index has entered the uptrend after a two-year pause in the floor range. The relative strength index (RSI) in timeframes has also entered the support range for the first time since 2015.
The logarithmic MACD is also ascending and has recently formed an ascending intersection. This indicator indicates that the probability of ascent is strong. With all these interpretations, the turning point of the Litecoin price is near.
LightCoin’s previous uptrend in 2017 marked the historic peak of this digital currency. It is possible that after a long time, digital silver will have a chance to expand.