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The Litecoin price jumped 5% in the last 24 hours to trade at $112.90 as of 00:08 a.m. EST on trading volume that skyrocketed 92% to $933.4 million.   The LTC price pump made the crypto the biggest gainer among major cryptos on CoinMarketCap. Litecoin Price Aims For A Rally The LTC price has seen an impressive rally from its lows in early 2024. The Litecoin price surged past the $100 psychological level in December through a parabolic curve and reached highs near $140 before facing resistance. Recently, LTC experienced a pullback towards the $100-$105 support zone, which has acted as a strong demand area multiple times (highlighted in purple on the chart), according to data from GeckoTerminal .  This support zone aligns with the 50-day Simple Moving Average (SMA), reinforcing its importance. The price of Litecoin briefly dipped below this level but quickly rebounded, signaling strong buying interest. Additionally, a golden cross between the 50-day and 200-day ...

After today's Bitcoin ETF decision delay, BTC's boring price action looks set to carry on through the weekend. Bitcoin (BTC) continues to frustrate investors with its tight range consolidation, giving no clue about the possible direction of the breakout. Typically, the longer the range, the stronger the eventual breakout from it. Therefore, traders should be on their toes to latch on to the breakout when it happens.  A minor positive in favor of the bulls is that they are holding on to a large part of the gains seen in 2023. That indicates a lack of urgency among the bulls to book profits as they anticipate the uptrend to resume. Daily cryptocurrency market performance. Source: Coin360 Bloomberg senior ETF analyst Eric Balchunas highlighted that 15 of the best performing equity exchange-traded funds in 2023 have been crypto-related with exposure to crypto and blockchain. Do Bitcoin and the select altcoins show any signs of a potential breakout from their respective ranges? Le...

Bitcoin and altcoins are extending their rally and traders are hopeful that the gains will push higher after this week’s consumer price index data is released. Crypto and stock Markets are usually forward-looking. Meaning, traders tend to ignore the near-term negatives and focus on the positives down the line. With Bitcoin’s (BTC) next halving in 2024, analysts are shifting their attention to this event. Independent market analyst Rekt Capital highlighted this unique market dynamic in 2015 and 2019, a year before halving, Bitcoin rallied 234% and 316% respectively. If history repeats itself, Bitcoin’s price action may spring a surprise in 2023. However, the near term remains uncertain and the Consumer Price Index (CPI) data on Jan. 12 may lead to a sharp uptick in volatility. Some analysts are skeptical of the growing dominance of Altcoin trading volume, which is above 50%. According to CryptoQuant contributor Maartunn, the Altcoin dominance warns of “a potential risk for further down...

Bitcoin and select altcoins have turned down from overhead resistance levels, indicating that bears remain in control. Gold has been an outperformer in 2022 compared to the United States equities markets and Bitcoin (BTC). The yellow metal is almost flat for the year while the S&P 500 is down more than 19% and Bitcoin has plunged roughly 64%.  The sharp fall in Bitcoin’s price has hurt both short-term and long-term investors alike. According to Glassnode data, 1,889,585 Bitcoin held by short-term holders was at a loss as of Dec. 26 while the loss-making tally of long-term holders was 6,057,858 Bitcoin. Daily cryptocurrency market performance. Source: Coin360 In spite of gold’s good showing and Bitcoin’s dismal performance in 2022, billionaire investor Mark Cuban continues to favor Bitcoin over gold. While speaking on Bill Maher’s Club Random podcast, Cuban told Maher, “If you have gold, you’re dumb as fuck.” He advised Maher to “just get Bitcoin.” Could Bitcoin lead a recovery in ...