bullish

Litecoin

Parabolic

Mirror

Rise

Crypto analyst Tony Severino has highlighted the potential for <a href="https://yellow.com/asset/ltc">Litecoin</a> to experience a dramatic upward movement similar to <a href="https://yellow.com/asset/xrp">XRP</a>'s recent remarkable rally. According to Severino, a bullish indicator on Litecoin's chart suggests that the cryptocurrency could soon embark on a significant price surge. 
In a recent analysis, Severino <a href="https://www.newsbtc.com/analysis/ltc/litecoin-about-to-pull-an-xrp/">noted</a> that Litecoin is currently positioned above the monthly upper Bollinger Band. This implies a necessary price correction has been completed, setting the stage for a potential bullish reversal. Accompanied by a chart illustration, Severino pointed out an emerging upward wick on Litecoin's monthly chart, indicating possible upward momentum. 
Although Severino did not specify a precise price target, his analysis hints that Litecoin could climb to the $150 and $300 levels. Such a rally might eventually propel the cryptocurrency to its all-time high (ATH) of $412. It's noteworthy that Severino previously identified a similar pattern with XRP, which subsequently saw a parabolic rise exceeding 200%, crossing the $2 mark. 
Given these insights, the current analysis on Litecoin stands as a critical observation. Severino suggests that LTC is poised for a rally akin to XRP's recent performance, with Litecoin already showing signs of catching up—evidenced by a 24% increase over the past week. 
The notion that Litecoin may become the next 'Dino coin' to experience a parabolic rally is echoed by another analyst, Crypto Snorlax. In a post, he showcased a chart comparing XRP's price movements with Litecoin's and made some noteworthy observations. 
Firstly, Snorlax highlighted a strong correlation among historical altcoins, pointing out that XRP experienced a fivefold price increase from its lower range. The analyst anticipates that Litecoin could follow a similar trajectory. Secondly, he noted that Litecoin has recently surged past an 18-month resistance level at $115, now transforming it into support. 
Consequently, Snorlax's analysis reveals that Litecoin is strategically positioned for a substantial rally, with the potential to realize up to a threefold price increase, possibly reaching $450. This would mark a new ATH for the cryptocurrency. 
As of the latest data from CoinMarketCap, Litecoin is trading around $121, registering a significant 20% increase over the last 24 hours.

Litecoin Could Mirror XRP's Price Surge, Predicts Market Analyst

Yellow News

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