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Crypto analyst Tony Severino stated Litecoin is about to tug an XRP, suggesting that the coin might quickly take pleasure in a parabolic rally. The analyst alluded to a bullish indicator on LTC’s chart, which confirmed that the crypto might witness this parabolic rally.
Litecoin Is About To Pull An XRP, Right here’s Why
In an X submit, Tony Severino stated that Litecoin is about to tug an XRP, noting that the crypto is now above the month-to-month higher Bollinger Band. This means that LTC has undergone the required value correction and is now well-primed for a bullish reversal. The analyst’s accompanying chart confirmed {that a} wick to the upside was already forming for the crypto on the month-to-month chart.
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Severino didn’t give a value goal for the way excessive Litecoin might rally when this transfer to the upside happens. Nevertheless, the chart confirmed that the $150 and $300 value ranges had been in view, a rally that might in the end pave the way in which for LTC to rally to its present all-time excessive (ATH) of $412. It’s price mentioning that the crypto analyst had additionally lately made the same evaluation for XRP.
Prior to now, Severino talked about XRP is simply above the month-to-month higher Bollinger Band simply as BB Width expands from the tightest squeeze in XRP historical past. He added that that is going to shock and awe. Since then, XRP has loved a parabolic rally of over 200% and is now above the $2 mark, a stage the analyst’s chart confirmed the crypto might surpass.
Due to this fact, this Litecoin evaluation is undoubtedly one to look at for the reason that crypto analyst predicts that LTC will pull an XRP. Litecoin has but to take pleasure in its bull run, though it already seems to be to be catching up, contemplating it’s up over 24% within the final seven days.
The Subsequent Dino Coin To Run?
Like Severino, crypto analyst Crypto Snorlax has additionally recommended that Litecoin would be the subsequent ‘Dino coin’ to witness a parabolic rally. In an X submit, the analyst highlighted a chart overlaying XRP’s value motion over LTC’s. Based mostly on this evaluation, Crypto Snorlax revealed two fascinating findings.
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Firstly, he famous that there’s a sturdy correlation between previous altcoins. With XRP recording a 5x value enhance from its backside vary, the analyst expects Litecoin to comply with shortly. Secondly, Crypto Snorlax revealed that Litecoin simply broke above $115, an 18-month resistance.
Due to this fact, Litecoin is effectively primed for a major rally, having flipped this resistance to assist. The analyst’s accompanying chart confirmed that LTC might take pleasure in as much as a 3x value enhance and attain as excessive as $450, which might mark a brand new ATH for the crypto.
On the time of writing, Litecoin is buying and selling at round $121, up over 20% within the final 24 hours, in response to information from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com