en.bitcoinsistemi.com
While Bitcoin continues its strong rise by exceeding $ 47,000, there is also upward movement in altcoins.
At this point, the largest altcoin Ethereum (ETH) exceeded $ 2,500, while Litecoin, known as digital silver, exceeded $ 70 for the first time since January 22.
Evaluating the rise in Bitcoin and $LTC together, Santiment argued that the rise of Litecoin is a bullish precursor for $BTC and altcoins.
Stating that Litecoin is experiencing a slight rise at this point and that this rise indicates an upward trend in market dynamics, Santiment said that investors should follow $LTC for the continuation of the rise.
“Litecoin rose slightly and jumped above $70 for the first time since January 22.
For now, trading volume for the asset, which ranks 19th in market capitalization, is fairly inactive.
But watch $LTC, as isolated pumps like the $LTC rally are often leading bullish data for $BTC. “
⚡️📈 #Litecoin has had a mild emergence, rebounding back above $70 for the first time since January 22nd. For now, trading volume is rather dormant for the #19 ranked market cap asset. But monitor $LTC, as isolated pumps are often predecessors for $BTC. https://t.co/xViUwnLeOt pic.twitter.com/BO8u1moQNN
— Santiment (@santimentfeed) February 9, 2024
Apart from this, analysts also evaluated the RSI in $LTC and evaluated that the RSI also gave a bullish signal. Analysts have noted that a two-month high on the RSI generally signals increased buying momentum and potential upward price movement.
*This is not investment advice.