A broadly adopted analyst believes that one large-cap altcoin now has a compelling narrative that can gasoline its surge to a recent document excessive.
Pseudonymous analyst Kaleo tells his 685,600 followers on the social media platform X that Litecoin (LTC) seems to be mimicking its 2021 bull market sample when it shattered a diagonal resistance earlier than surging to a cycle excessive.
Based on Kaleo, LTC is repeating the same value motion however he thinks Litecoin will ascend to new all-time highs and breach the $1,000 value space, fueled by the LTC exchange-traded fund (ETF) narrative.
“LTC/Litecoin
I’ve been ready for this HTF (excessive timeframe) setup to appear like this for the reason that final halving in August of ’23.
It’s so insanely clear and easy, and with Bloomberg shifting it to the very best % probability for an ETF approval this yr, it lastly has a story to occur.
Ship it to new all-time highs with haste.”
Wanting on the dealer’s chart, he appears to foretell that LTC will rally to as excessive as $1,200. At time of writing, LTC is price $119.02.
Earlier this week, Bloomberg ETF analyst James Seyffart mentioned Litecoin has the very best odds of getting the following ETF accepted, at 90%. He additionally mentioned the U.S. Securities and Trade Fee (SEC) has given no indication that it thinks LTC is a safety.
“There’s some extra work that must be executed on that entrance that doesn’t must occur with one thing like Litecoin. The SEC has by no means known as Litecoin a safety so, I wouldn’t be stunned should you see Litecoin come first.”
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Examine Value Motion
Comply with us on X, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any losses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney