Litecoins (LTC) Explosive Rally: Whats Driving Its Sudden Surge?
- Litecoins first upward momentum in years shows higher highs and lows, signaling a major market shift after a five-year downtrend.
- Bullish indicators, including a high-volume Doji and green candles, suggest Litecoins uptrend could unfold in two to three months.
- Litecoins surge, supported by strong LTC/BTC volume, may lead to a significant rally, making it a prime focus for long-term investors.
Litecoin (LTC) movement in the market was recently explained by Alan Santana with the focus on the LTC/BTC pair. LTC has now experienced its first wave of upward momentum as defined by higher highs and higher lows after years of a downward trend. This is a significant event for the LTC price, which had been declining for the last five years.
Litecoin Signals Strong Recovery
The analysis showed that this bullish trend is a result of several indicators that began with a monumental All-Time Low (ATL) one month ago. The first major sign was observed exactly four weeks ago when the market has developed a high-volume Doji candle at the ATL with subsequent bullish continuation patterns and breakout. Most recently, a full green candle this week indicated this is not just a temporary spike, but may likely be the beginning of a longer upward trend.
Of all the cryptocurrencies, the LTC/BTC pair remains the most active since November of last year, which shows that more and more people are getting interested in the cryptocurrency and investing on it. Although it is still unclear when this bullish wave will unfold.
Litecoins Bullish Trajectory
The analyst expects it to grow fast, but it may take just two to three months to grow. On the other hand, it could take a slower and more extended trajectory in the coming six to seven months. However, the analyst has a preponderance of the first case of the price surge being immediate and forceful. At the time of writing, LTC is experiencing a 1.09% gain over the past day to trade at $132.12.
Source: TradingView
In particular, the altcoin market is often considered as predestined to bring mechanically large profits, and the Litecoins current rally may be a signal of more substantial gains. However, volatility still can be noticed in the crypto sphere, but the recent trends indicate that Litecoin is about to enter a significant price surge and become an object of interest in the nearest future.
The market is currently flashing strong bulls signs while Litecoin is set to experience its most powerful rally ever, meaning that the coming months may be the most important in the history of the currency. Long term investors should keep on the lookout for this, as this could be the beginning of something big for Litecoin as well as the entire crypto space.
Read more: https://www.tronweekly.com/litecoins-ltc-explosive-rally-whats-driving/
Text source: TronWeekly
