We will be conducting a macro analysis between the three competitors BTC, ETH, and LTC while analyzing their technical status and comparing all three together in the end.
BTC has shown tremendous strength to the news that Tesla, Inc. bought 1.5B USD worth Bitcoin and entered real price discovery. The dip and slow retrace were clear as day and very healthy while trapping many inexperienced investors in a bearish mindset. Looking at technical indicators such as the MKAST Algorithm, one can identify a bullish condition that started below the previous ATH levels and has caused the new breakout to BTCs ATH and beyond. The MKAST Index shows 14/15 points and is very clearly up trending, a healthy and a remarkable sign supporting the bullish narrative, especially on the higher timeframes.
ETH has been consistently making higher highs and pushing for new ATH levels to enter real parabolic price discovery. It has spent a lot of time in previous weeks fighting and consolidating at a certain key-level yet could secure a breakout. Looking at technical indicators such as the MKAST Algorithm, one can quickly identify a bullish condition due to extreme bullishness lately. The MKAST Index shows 13/15 points, which leaves enough space for another impulsive move, which could hit the “magical” $2000 mark.
LTC has been lagging a lot lately and has been showing a similar structure to bitcoin. The breakout from the falling wedge bullish pattern has happened now and is in its full development. Nevertheless, the impulsive move to the upside, such as seen on other assets, is yet to come. Looking at technical indicators such as the MKAST Algorithm, one can identify a bullish condition entirely understandable due to the recent bullish breakout from the falling wedge structure. The MKAST Index shows 14/15 points, which is relatively high yet also very bullish considering the strong momentum LTC is showing.
BTC is leading the race with an impulsive bullishness and the highest amount of hype around it. ETH is following tightly behind and pushing even higher and higher than it has ever been before, which is a decisive move considering a possible parabolic price discovery. LTC is the asset with the highest opportunity for the experienced trader since it is very early in its market cycle and still very far away from its All-Time High levels.
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