Litecoin/dollar Multi-Year Breakout; Expansion to 4-digits
The idea is simple.
There are numerous converging tailwinds that suggest LTC/USD faces a radical repricing event in the weeks ahead. Not all data points have been listed here (see chrisoncrypto.com or my pinned post on X for more).
Typically, LTC/USD experiences a drawdown post-halving, but that drawdown is historically temporary, and precedes the coin's bull-market move. Halving dates have not been added to this chart, I invite you to check them out though. Instead, we draw attention to a curious cyclical pattern that tends to lift-off around the 44-day threshold since the crypto's launch on Bitfinex.
Curiously, on-balance volumes did not deteriorate significantly during the bear market either, and have in fact held up amidst a bout of accumulation between the $60-$100 level.
The multi-year symmetrical triangle measured move offers a price-target of around $2,200-$4,200. If it sounds implausible, imagine if it was a 5-minute chart.
Another bundle of data points, which have been significantly trimmed in order to adequately show price-expansion targets is the Master Network Value Model; which uses several on-chain metrics such as total addresses, tx counts, hashing power and others to project fair value.
For more info, feel free to follow along on X. chrisoncrypto1
There are numerous converging tailwinds that suggest LTC/USD faces a radical repricing event in the weeks ahead. Not all data points have been listed here (see chrisoncrypto.com or my pinned post on X for more).
Typically, LTC/USD experiences a drawdown post-halving, but that drawdown is historically temporary, and precedes the coin's bull-market move. Halving dates have not been added to this chart, I invite you to check them out though. Instead, we draw attention to a curious cyclical pattern that tends to lift-off around the 44-day threshold since the crypto's launch on Bitfinex.
Curiously, on-balance volumes did not deteriorate significantly during the bear market either, and have in fact held up amidst a bout of accumulation between the $60-$100 level.
The multi-year symmetrical triangle measured move offers a price-target of around $2,200-$4,200. If it sounds implausible, imagine if it was a 5-minute chart.
Another bundle of data points, which have been significantly trimmed in order to adequately show price-expansion targets is the Master Network Value Model; which uses several on-chain metrics such as total addresses, tx counts, hashing power and others to project fair value.
For more info, feel free to follow along on X. chrisoncrypto1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.