Veteran Altcoins Litecoin and Bitcoin Cash Rekindle Bullish Momentum

Litecoin (LTC) and Bitcoin Cash (BCH) are exhibiting bullish trends, with LTC potentially flipping resistance into support while BCH has moved back into an up channel. LTC's uptrend needs to continue for holders to benefit, and BCH has the potential to match its 2021 high if it can overcome current resistances.

Litecoin and Bitcoin Cash: Veteran Altcoins Rekindling Bullish Momentum

In the midst of the ongoing cryptocurrency bull market, it is often the newer altcoins that garner the most attention and deliver impressive gains. However, seasoned veterans such as Litecoin ($LTC) and Bitcoin Cash ($BCH) should not be overlooked as they demonstrate renewed bullish potential.

Litecoin: Resistance Turned Support

Launched in 2015, Litecoin is one of the earliest altcoins, employing a proof-of-work blockchain mechanism like Bitcoin but with a distinct cryptographic algorithm and a higher coin issuance rate. Historically known as the "silver" to Bitcoin's "gold," Litecoin has experienced a resurgence in interest.

On the weekly time frame, Litecoin's price has exhibited a promising development, potentially flipping a previous resistance level into a support level. The closing price on Sunday will be instrumental in confirming this shift.

Moving to a shorter time frame, the 4-hourly chart reveals that Litecoin is firmly entrenched in an uptrend. Since February 20, the price has surged by a remarkable 67%, indicating strong momentum. The continuation of this trend is crucial for investors to reap the rewards of Litecoin's positive trajectory.

Bitcoin Cash: Bullish Breakout and Channel Return

Bitcoin Cash has outperformed Litecoin, delivering a 175% surge since February 20. The cryptocurrency has regained its position within the up channel and above the trend line, painting a bullish picture.

On the weekly time frame, Bitcoin Cash faces resistance levels around $805. Once these resistances are overcome, there is a realistic possibility that the price could approach the 2021 bull market high of $1,650.

Conclusion

Litecoin and Bitcoin Cash, two veteran altcoins, are showcasing renewed bullish momentum in the current market cycle. Litecoin's potential resistance flip could provide further upside potential, while Bitcoin Cash's breakout and channel return suggest a trajectory towards its previous highs.

Investors in these established altcoins should carefully monitor price action and exercise due diligence before making any trading decisions. As always, it is essential to conduct thorough research and consider risk tolerance before investing in any cryptocurrency.