{"id":27874,"date":"2022-09-03T01:49:48","date_gmt":"2022-09-03T01:49:48","guid":{"rendered":"http:\/\/egrowonline.com\/?p=27874"},"modified":"2022-09-03T01:49:48","modified_gmt":"2022-09-03T01:49:48","slug":"not-xrp-shib-but-this-alt-can-be-your-choice-for-diversifying-portfolio","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=27874","title":{"rendered":"Not XRP, SHIB but this alt can be your choice for diversifying portfolio"},"content":{"rendered":"


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Litecoin [LTC]<\/a>, which is often regarded as an underdog, displayed a commendable performance last week as compared to other market players.\u00a0<\/span><\/p>\n

Interestingly,<\/span> Litecoin<\/span> was featured in the \u2018Top 5 Altcoin\u2019 list published by the Evening Standard, which definitely adds more value to the blockchain.\u00a0<\/span><\/p>\n

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‘2022\u2019s Top Five Altcoins’ \u2013 @EveningStandard<\/a> https:\/\/t.co\/VuTNfZCjb6<\/a><\/p>\n

\u2014 Litecoin (@litecoin) September 1, 2022<\/a><\/p>\n<\/blockquote>\n

The list mentioned some of the cryptocurrencies in 2022 that can be viewed as alternatives to the king of crypto, Bitcoin [BTC]<\/a>. These altcoins can be considered for investment purposes or can be a choice for diversifying investment portfolios. <\/span><\/p>\n

Apart from Litecoin, other cryptos that made it to the list include Ethereum [ETH]<\/a>, Cardano [ADA]<\/a>, Solana [SOL]<\/a>, Bitcoin Cash [BCH]<\/a>, and Dogecoin [DOGE]<\/a>, which was the only meme coin on the list.\u00a0<\/span><\/p>\n

Secret behind LTC\u2019s success<\/strong><\/h3>\n

While most cryptos struggled to move upwards since late August, Litecoin managed to register positive 24-hour and seven-day gains. At the time of writing, LTC was trading at $57.24 with a market capitalization of $4,068,169,109. <\/span><\/p>\n

The performance increment did not come as a surprise, as several on-chain metrics backed the uptick. For instance, LTC\u2019s Market Value Realized Value (MVRV) ratio quickly gained an uptrend along with its price.<\/span><\/p>\n

The price surge was also backed by high volumes, further establishing the legitimacy of the episode.<\/span><\/p>\n

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Source: Santiment<\/p>\n<\/div>\n

Interestingly, the number of receiving addresses increased over the last week. It was a positive sign for LTC as it indicated investors\u2019 confidence in the token. <\/span><\/p>\n

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Source: Glassnode<\/p>\n<\/div>\n

Furthermore, LTC\u2019s social presence also increased over the last week as its trending words rank improved considerably. This pointed toward an increased community interest in the coin. <\/span><\/p>\n

Gains in critical on-chain metrics along with development activity suggested better days ahead for Litecoin. <\/span><\/p>\n

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Source: Santiment<\/p>\n<\/div>\n

Looking Forward<\/strong><\/h3>\n

Litecoin\u2019s four-hour chart also looked promising as a bullish pattern was formed, further strengthening the chances of a surge in the coming days. <\/span><\/p>\n

LTC<\/span><\/a> showed resistance at the $57.8 mark, but a breakout may be on the charts due to positive on-chain metrics and a bullish ascending triangle pattern. <\/span><\/p>\n

The 20-day EMA (Green) flipped the 50-day EMA (red), which is a bullish signal. Moreover, the Relative Strength Index (RSI) also registered an uptick, increasing the possibility of a northward breakout. <\/span><\/p>\n

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Source: TradingView<\/p>\n<\/div>\n

However, the Chaikin Money Flow (CMF) showed a bearish divergence as it went down. The price and RSI registered upticks, which might restrict <\/span>LTC<\/span> from going up further.\u00a0<\/span><\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Litecoin [LTC], which is often regarded as an underdog, displayed a commendable performance last week as compared to other market players.\u00a0 Interestingly, Litecoin was featured in the \u2018Top 5 Altcoin\u2019 list published by the Evening Standard, which definitely adds more value to the blockchain.\u00a0 ‘2022\u2019s Top Five Altcoins’ \u2013 @EveningStandard https:\/\/t.co\/VuTNfZCjb6 \u2014 Litecoin (@litecoin) September […]<\/p>\n","protected":false},"author":1,"featured_media":27875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[1012,3979,10896,1817,557,58],"class_list":["post-27874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-alt","tag-choice","tag-diversifying","tag-portfolio","tag-shib","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/raimond-klavins-938Z8LjOiWs-unsplash-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27874"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27874\/revisions"}],"predecessor-version":[{"id":27876,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27874\/revisions\/27876"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/27875"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27874"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}