This article is also available in Spanish.
cryptocurrency analyst Tony Severino Litecoin is set to mint XRP soon, suggesting that the coin could soon enjoy a parabolic rally. The analyst cited bullish indicators on the LTC chart, which showed that the cryptocurrency could witness such a parabolic rally.
Litecoin is planning to launch XRP. Here’s why:
In the X post, Tony Severino pointed out that Litecoin will soon mint Upper Bollinger Band. This means that LTC has undergone the necessary price correction and is now well-poised for a bullish reversal. The analyst’s accompanying chart showed that a bullish sentiment is already forming for the cryptocurrency on the monthly chart.
Related Reading
Severino did not provide a price target for how high Litecoin could rise when such an upward move occurs. However, the chart shows that price levels of $150 and $300 are expected, which could ultimately pave the way for LTC to bounce back to current levels. All-time high (ATH) $412. It is worth mentioning that a cryptocurrency analyst recently performed a similar analysis for XRP.
Previously, Severino noted that XRP is just above the monthly upper Bollinger Band as BB Width expands from the tightest squeeze in XRP history. He added that this would evoke shock and awe. Since then, XRP was fun There has been a parabolic rally of over 200% and it is now above the $2 level. According to analysts’ charts, this is a level that the cryptocurrency can surpass.
Therefore, as cryptocurrency analysts predict that LTC will bring XRP, this Litecoin analysis is undoubtedly one to watch. Litecoin already appears to be catching up, considering it is up more than 24% in the past seven days, but it is yet to enjoy its bull run.
When will the next Dino Coin launch?
Like Severino, cryptocurrency analyst Crypto Snorlax also suggested that Litecoin will be the next market.Dino Coin‘We witness a parabolic rally. to X postThe analyst highlighted a chart that overlays the price action of XRP compared to LTC. Based on this analysis, Crypto Snorlax revealed two interesting results.
Related Reading
First, he pointed out that there is a strong correlation between older altcoins. with XRP History Analysts expect Litecoin to soon follow with a 5x price increase from the low end of the range. Second, Crypto Snorlax reported that Litecoin broke the 18-month resistance level of $115.
Therefore, Litecoin is poised for significant upside. Overturn this resistance Support. According to the analyst’s attached chart, LTC could enjoy a price increase of up to 3x and could reach up to $450, which would be a new ATH for the cryptocurrency.
At the time of writing, Litecoin is reportedly trading at around $121, up more than 20% in the last 24 hours. data From CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com