Litecoin was once among the most prominent forerunners of the digital asset marketplace. It witnessed an uncanny appreciation in the 2019 bull market peak of cryptocurrencies. Many investors were taking note of the altcoin, and there were speculations that there was a new Bitcoin challenger in town. However, like many others, Litecoin disappeared from the center stage after the 2019 bull-wave completed its course.
No altcoins that were competing in the race of the top 10 of 2019 have made the cut this year. However, like a sporting champ, Litecoin has managed to hold on to its position among the top 10 digital currencies at the global price index. There had been speculations in the market that there might be some signs of recovery for the forgotten and forlorn altcoin after all.
Litecoin VS Bitcoin the Inverse Price Proportions Finally about to Turn the Other way
Litecoin was once identified as the ‘digital silver’ being next to the ‘digital gold’ flagship cryptocurrency Bitcoin itself. Even the current bull-run has completely ignored the altcoin despite its persistent position among the top 10 digital assets in the world. While Ethereum has smashed $2,000 and Bitcoin is trading at the $60K mark, Litecoin price has taken a nose dive, severely weakening its position in the LTC/BTC trading pair.
Another similar token that had been suffering is XRP- which was shot down from the third-ranking position by the filing of an SEC lawsuit. Since then, the altcoin has climbed up to the rank of top 4th, showing a remarkable recovery, unlike any other digital assets. However, Litecoin did not have such issues, but it could not catch the spark train for the next bull wave on account of being ignored and put aside.
Technical Expert Predicts a Recovery Line
The appearance of the TD 9 signal has mocked the financial analysts from time to time. During the last and current year, the trend hit the altcoin several times, but it had been diverted to the TD 13 countdown time and again. However, the current pattern shows an end line for TD9 and TD 13 intercepting at a point of exhaustion.
With a recent turn around the LTC/BTC trading pair could now rise higher. It should be noted that Litecoin has been trending at $200 and had been able to reclaim its last ATH of $418 since the 2019 peak. After the concurrent bear market dip, the altcoin kept falling for a consecutive 25 months. New evidence shows that Litecoin might be able to catch the bull train after all.