Crypto old guard returns – Bitcoin Cash (BCH) and Litecoin (LTC) are back

During the ongoing cryptocurrency bull market, it’s frequently the newer altcoins that experience significant price increases. However, we mustn’t overlook the “veterans” like Bitcoin Cash ($BCH) and Litecoin ($LITE).

Litecoin (LTC) is an early alternative crypto currency, launched in 2015. Like Bitcoin, it operates on a proof-of-work blockchain, but distinguishes itself by employing a distinct cryptographic algorithm, resulting in a larger coin supply. For this reason, Litecoin has gained the nickname “silver to Bitcoin’s gold.”

Can Litecoin flip resistance into support?

On a weekly basis, the LTC price could have turned former resistance levels into new support if it holds above these levels by the end of trading on Sundays.

$LTC uptrend needs to continue

In the shorter term perspective of the past few hours, LTC has clearly been advancing. It has achieved a significant increase in value since February 20th, amounting to approximately 67%. For LTC investors to reap the benefits of their wait, this trend must persist.

$BCH bullish move back into up channel

$BCH has surpassed $LTC in terms of price increase since the same date. Specifically, $BCH has experienced a 175% rise. After re-entering its upward trend and breaking above the moving average line, $BCH now exhibits a strong bullish signal.

Could $BCH match the 2021 high?

On a weekly basis, $BCH has a chance to break past its current resistance levels up to $805. If successful, this could potentially lead to $BCH reaching prices as high as the record-breaking $1,650 from the 2021 bull market.

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2024-04-04 14:23