Will Litecoin be the best cryptocurrency to invest in 2019? Litecoin was originally created to become the silver crypto while Bitcoin remains the gold. The protocol was supposed to ensure faster operations and be viewed more like cash, than as a cryptocurrency.
However, in recent months, Litecoin has partially slipped out of many people’s minds. The same thing has occurred with other altcoins that have similar interest. Now, the bigger mouths in the industry have come forward to push the Litecoin (LTC) market’s attention. However, recent happenings in the market have changed the fortunes of LTC. The digital asset is gradually positioning to become one of the best cryptocurrency to invest in 2019.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction: LTC Came to Forefront in Q1 Last Year
Despite LTC’s state it still boasts of the potential to become one of the best cryptocurrency to invest in 2019. This came into effect recently, though. Particularly, when Litecoin (LTC) shifted to the forefront in the first Quarter of 2019. For example, on New Year’s Day, LTC was worth $30 at the time after it had reached a year-high of $90. This was a 300% increase within a three month period.
This unique situation has led many experts, traders and investors alike to ask if Litecoin (LTC) is well on its way to becoming one of the best cryptocurrency to invest in 2019. Will Litecoin Go on to usurp Bitcoin (BTC)? Will it become the future go-to crypto? Or is it simply a testing ground for the almighty Bitcoin (BTC)? Overall outlook surrounding the digital asset class is positive. A look at Litecoin’s short-term and medium-term analysis will help in a way.
Litecoin Price Prediction Shows LTC is in Bullish Position in the Medium Term
Last week, Litecoin price was in bearish. The bulls reached $97.50 and were resisted. After which prices fell to $83.77 before it commenced a range-bound pattern. The bulls made a second attempt and got resistance at $92. LTC price eventually fell to $77.85 before commencing a range bound movement. Now the bulls have managed to break above the 12 and 26-day EMAs.
LTC’s price is now above both EMAs indicating that its price will rise. LTC’s price is trading at $81.30 as of press time according to data given by CoinMarketCap. The MACD and signal lines are below the zero pattern which indicates selling signal. The crypto’s price is beyond both EMAs indicating LTC’s price remains is bullish territory in the medium term.
Litecoin Price Prediction: LTC in Bullish Position in the Short Term
Via the 1 hour chart of the LTC/USD pair, the Litecoin price is in the bullish territory. Last week the Litecoin price fell to $77.50. Before commencing a range bound movement beneath and above the 12 and 26-day EMAs.
Now, the bulls have also broken above both EMAs to allow the digital asset trade in bullish territory. The MACD and signal lines are above the zero pattern which indicates a buying signal in the short term. The LTC price is now trading above both EMAs indicating it is in bullish territory in the short term.