LitecoinLong
Litecoin LTCUSD Major Multi-Year Breakout? $400+PT On Deck???
As many of y'all know litecoin hasn't been the greatest performer over the past couple of years, and at times even appears to have wanted to breakdown lower, but i've been seeing things from a bullish point of view and there's a few reasons why:
1. Consistent higher lows, which means there's more people holding & accumulating than the previous low
2. Extreme undervaluation relative to Bitcoin
3. One of the few trustworthy Altcoins that's not a scam, has stood the test of time, and fun fact: is a direct fork of the original bitcoin but with improvements that make it superior in multiple areas
And something interesting has happened on the latest weekly candle: we're breaking a major downsloping supply line that was first established when the downtrend began, and now while there's some overhead resistance above, if this truly is a new bull cycle then it should have no problem running to at least the previous ATH of $400+ ideally within 6-12 Months.
1. Consistent higher lows, which means there's more people holding & accumulating than the previous low
2. Extreme undervaluation relative to Bitcoin
3. One of the few trustworthy Altcoins that's not a scam, has stood the test of time, and fun fact: is a direct fork of the original bitcoin but with improvements that make it superior in multiple areas
And something interesting has happened on the latest weekly candle: we're breaking a major downsloping supply line that was first established when the downtrend began, and now while there's some overhead resistance above, if this truly is a new bull cycle then it should have no problem running to at least the previous ATH of $400+ ideally within 6-12 Months.
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.