John Bollinger, the renowned trader behind the Bollinger Bands trading tool, has recently voiced his concerns regarding Litecoin’s performance in comparison to its more prominent counterpart, Bitcoin.
Bollinger’s analysis comes as the crypto market shows signs of recovery, with Litecoin itself seeing a notable uptick in the last 24 hours.
Is a price reversal on the horizon?
In technical analysis, a “2 bar reversal” is a pattern that indicates a possible change in trend.
According to Bollinger’s analysis, Litecoin has exhibited this pattern at the lower end of the Bollinger Bands—a technical indicator developed by Bollinger himself, which measures market volatility and price levels.
Specifically, a 2 bar reversal at the lower band typically suggests a potential upward price movement after a decline. This pattern on the Litecoin chart may signal a short-term reversal from bearish to bullish sentiment, offering a glimmer of hope to Litecoin investors.
A modest rally
It is worth noting that Litecoin is down a whopping 63% against Bitcoin since last November, which makes it
Yet, the O.G. altcoin remains within the top 20. Litecoin has experienced a 2.96% increase over the past 24 hours.
This gain, though modest, is part of a broader trend of recovery within the cryptocurrency market.
Litecoin’s rise is concurrent with Bitcoin’s reclaiming of the $38,000 mark after a small rally that was promoted by
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