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LTC price hits 13-month high against Bitcoin — All-time high next for Litecoin?

Published 05/06/2021, 10:20 AM
Updated 05/06/2021, 12:00 PM
LTC price hits 13-month high against Bitcoin — All-time high next for Litecoin?

Litecoin (LTC) prices surged by up to 35% to hit a one-year high against Bitcoin (BTC) this week, prompting analysts to predict an extended upside momentum for the remainder of the ongoing monthly session.

LTC/BTC 1-week candle chart (Binance). Source: TradingView

The LTC/BTC exchange rate touched 6,358 sats during the Asia-Pacific trading hours. The pair later corrected to an intraday low of 5,776 sats ahead of the London opening bell as profit-taking sentiment grew near the sessional peaks.

Number of active Litecoin addresses rises. Source: Glassnode
Ether hits 3-year high against Bitcoin. Source: TradingView
Litecoin vs. Bitcoin dominance index. Source: TradingView
Bitcoin enters a bearish rising wedge range. Source: TradingView

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Latest comments

In hindsight, I think that rally vs the historical measure vs BTC and ETH was just the broader crypto hysteria that comes and goes with crypto. It may take another multi year cycle to again see such shorter-term outperformance. Should it happen again, crypto traders and investors may want to be alert as to a near-term top and significant profit taking.
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