[LTCUSD] Going to $500 by 2025? - Litecoin will surprise many!Hey everyone!
I'm very bullish on Litecoin for several reasons.
BULLISH FUNDAMENTALS:
First of all, Litecoin is amongst some others what we could call a "dinocoin" which managed to make its way throughout the years. Oftentimes being trolled for being slower than other coins to rise, but it still managed to survive to this day.
One of the most used cryptocurrencies in the real world for payments purposes
One of the most used coin with a top records of active addresses
Bitcoin is considered like digital gold, Litecoin like digital silver
Litecoin ETFs are being discussed and if accepted, will bring even more people to it (check Canary's Capital recent news)
A continuous list of updates, with some about security done the last few days
Holders have been accumulating for a - long - time now.
BULLISH TECHNICAL ANALYTICS:
I tried to spot the key resistances and levels on this weekly - simple - timeframe. We can clearly see a longterm channel being formed since 2017. We are now testing the $77-$80 resistance, before the next one being a major one (orange) around $100.
If the whole market remains bullish for the next few months, I believe we will quickly rise to previous key levels around $130 (RESISTANCE 2) then $190-$200 (RESISTANCE 3). If we manage to break all of them, we can for sure expect a new ATH. This one could reach the top of the trending channel.
I tried to imagine what it would look like with these Elliot's impulse waves pattern, which each broken resistance becoming a new support to be tested each time.
We can also see higher volumes, as well as bullish trends on RSI and MACD.
These are all the reasons why I believe Litecoin could surprise many in the upcoming months.
Not a financial advice, just sharing my thoughts. Always do your own research.
I'm curious to hear what are yours about Litecoin!