Crypto Analyst Says Litecoin Is About To Pull An XRP, Here’s What He Means
cryptocurrency analyst Tony Severino Litecoin is about to pull XRP higher, suggesting that the coin may soon experience a parabolic rise. The analyst mentioned bullish indicators on LTC’s charts that suggest the cryptocurrency could witness such a parabolic rally.
Litecoin Is Coming to XRP, Here’s Why
In an Bollinger Bands track. This suggests that LTC has undergone the necessary price correction and is now well-prepared for a bullish reversal. The accompanying chart from analysts shows that an upward wick has formed for the cryptocurrency on the monthly chart.
Related reading
Severino did not give a price target for how high Litecoin could rise when it rises. However, the chart shows that $150 and $300 price levels are on the way, and this rally could eventually pave the way for LTC to bounce back to current levels. All Time High (ATH) $412. It is worth mentioning that the cryptocurrency analyst also recently made a similar analysis on XRP.
Previously, Severino mentioned that XRP is slightly above the monthly Bollinger Bands upper limit, while the BB width is expanding from the tightest squeeze in XRP history. It will be shocking and awe-inspiring, he added. since then, XRP has enjoyed The parabolic rise of more than 200% has now crossed the $2 mark, with analysts’ charts suggesting the cryptocurrency could surpass this level.
Therefore, this Litecoin analysis is certainly worth paying attention to, as cryptocurrency analysts predict that LTC will pull XRP. Litecoin is yet to enjoy a bull run, but it looks to be catching up, considering it is up more than 24% in the past seven days.
The next dino coin to run?
Like Severino, cryptocurrency analyst Crypto Snorlax also said Litecoin will be the next “Dinosaur Coin‘Witness the parabolic rally. in a X poststhe analyst highlighted a chart covering XRP price action relative to LTC. Based on this analysis, Crypto Snorlax revealed two interesting findings.
Related reading
First, he noted that there is a strong correlation between old altcoins. and Ripple records Analysts expect Litecoin’s price to rise 5x from its bottom range. Second, Crypto Snorlax revealed that Litecoin just broke above $115, an 18-month resistance level.
As such, Litecoin is primed for a major surge, flipped this resistance support. The chart attached by the analyst shows that LTC’s price could increase 3x to as high as $450, which would mark the cryptocurrency’s new ATH.
According to statistics, as of this writing, Litecoin is trading at around $121, up more than 20% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
