fxstreet.com 03 Feb, 2021 14:30 am

LTC market value primed to double within the next few weeks

LTC market value primed to double within the next few weeks
Litecoin recently rose above 2020’s high, drawing much closer to $200. However, a barrier at $190 put a halt to the massive upswing. After confirming

ETH/USD weekly chart Intriguingly, Litecoin is taking a similar pattern that could see it more than double in price, with gains eyeing $400 (record highs).LTC/USD weekly chart The buying spree among the whales reinforces the bullish outlook.Other support levels to keep in mind include $80, the 100 Simple Moving Average and the 50 SMA on the weekly chart.At the moment, Ethereum is trading at new record highs as bulls are eyeing $2,000.

Breaking above this zone could catapult Litecoin above $200, perhaps jumpstarting the rally to the record highs.Santiment’s holder distribution brings to light the persistent rise in the number of addresses holding between 10,000 and 100,000 LTC.

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