Bitcoin is slowly losing control of the bullish momentum it had for the past few days, falling 2.7% in the last 24 hours.
At the time of publication, according to tracking CoingeckoAlpha crypto is trading at $20,392 and is once again showing a small sign of pullback in the past few hours.
- Bitcoin struggles to break above the $20,500 marker
- Despite the bull run, BTC failed to break into the Galaxy Score top 10 list
- LTC Leaves Bitcoin Behind After Cracking LunarCrash Metrics List
At times like these, the largest cryptocurrency in terms of market capitalization looks vulnerable and may be outperformed even by some of the lesser known altcoins like Litecoin (LTC).
Such was the case with Galaxy Score, a metric provided by LunarCrush designed to help understand crypto movement through extensive data analysis.
Litecoin managed to enter the top 10 list while Bitcoin was left out, a development that came as a surprise.
Bitcoin misses a possible bullish signal
Weather galaxy score is not a dominant and prominent indicator that can determine the price movement trajectory of a crypto asset, being included in its main list usually indicates a bullish rally.
Litecoin took the 6the place in the recent ranking, falling behind Collie Inu, Flux, AmpliFi, Neblio and Callisto Network and beating WadzPay, OKB, SONM and Ambrosus.
Meanwhile, Bitcoin did not make the list despite its massive rise and undeniable popularity.
LTC also accumulates another positive development as it was listed on CeFi and the DeFi Blockbank platform. This will help new investors to enter the Litecoin community and increase the reach of the asset.
However, according to the latest data from CoingeckoLTC is trading at $53.78 and although it is down 4.1% over the last day, it is still up 5% on both its weekly and fortnightly charts.
Litecoin headed for another up move
Despite the price drop that Litecoin experienced in the last 24 hours, its technical indicators point to a northerly direction. movement that will help the asset increase in value in the coming days.
Notably, its Relative Strength Index (RSI) and Chaikin Money Flow (FLOW) are positioned above the neutral zone, signaling that a bullish rally is ahead for the crypto.
Furthermore, Litecoin’s 20-day EMA is rapidly heading towards the 50-day EMA, confirming the positive thesis.
Lastly, the Bollinger Band revealed that the asset’s spot trading price is on its way to the high volatility zone.
All of these and other market indicators are giving investors a reason to be bullish as a continued rise in LTC prices is likely.
If this happens, Litecoin will also prove that its gains in recent days are not simply due to the crypto market rally fueled by Bitcoin and Ethereum.
LTC total market cap at $3.8 billion on the daily chart | Featured image from ITNext, Chart: TradingView.com Disclaimer: The analysis is based on the author's personal knowledge and should not be construed as investment advice.