Is LTC about to EXPLODE against BTC?!
Litecoin, quite the sob story for the past year.
Despite many if not most tokens sitting well above ATHs from 2017 LTC is still well below.
But is it about to turn and rip?!
Against 2017 LTC:BTC price ratios, LTC *should* be around $1200 currently, but yet it sits around $200.
The fact the there are now more LTC wallets active than ETH wallets : fxstreet.com/cryptocurrencies/news/litecoin-bears-want-to-take-over-but-ltc-price-still-eyes-400-202110211843
It's one of the oldest blockchains in crypto: bitcoinist.com/litecoin-10-year-anniversary-arrives-along-with-altcoins-darkest-hour/
And now major US banks (like US Bank) are now offering custody service for LTC: cnbc.com/2021/10/05/bitcoin-custody-us-bank-launches-service-as-institutions-race-to-cater-to-crypto-demand.html
Leads me to believe this token is prime to send it.
Looking at the LTC:BTC pairing this token has a clear falling wedge defined and is currently sitting in it's historical low range. Weekly RSI is building in lower-highs and holding linear uptrend, and we have a double-bearish oscillation on the MACD, which has rarely happened with this pair, suggesting possible oscillation to bullish. Not to mention a bullish engulfing candle on the weekly.
It's possible this token is dead and gone. A lost relic of crypto past. But it's also possible this token is a sleeping giant, ready to go huge.
If the market keeps climbing and LTC can break out of this falling wedge LTC to $2,000+ would not surprise me at all. BUT, we could break further south and this token could be a dud. As always risk management is key but also sometimes you fall into a great opportunity to start building long....
Despite many if not most tokens sitting well above ATHs from 2017 LTC is still well below.
But is it about to turn and rip?!
Against 2017 LTC:BTC price ratios, LTC *should* be around $1200 currently, but yet it sits around $200.
The fact the there are now more LTC wallets active than ETH wallets : fxstreet.com/cryptocurrencies/news/litecoin-bears-want-to-take-over-but-ltc-price-still-eyes-400-202110211843
It's one of the oldest blockchains in crypto: bitcoinist.com/litecoin-10-year-anniversary-arrives-along-with-altcoins-darkest-hour/
And now major US banks (like US Bank) are now offering custody service for LTC: cnbc.com/2021/10/05/bitcoin-custody-us-bank-launches-service-as-institutions-race-to-cater-to-crypto-demand.html
Leads me to believe this token is prime to send it.
Looking at the LTC:BTC pairing this token has a clear falling wedge defined and is currently sitting in it's historical low range. Weekly RSI is building in lower-highs and holding linear uptrend, and we have a double-bearish oscillation on the MACD, which has rarely happened with this pair, suggesting possible oscillation to bullish. Not to mention a bullish engulfing candle on the weekly.
It's possible this token is dead and gone. A lost relic of crypto past. But it's also possible this token is a sleeping giant, ready to go huge.
If the market keeps climbing and LTC can break out of this falling wedge LTC to $2,000+ would not surprise me at all. BUT, we could break further south and this token could be a dud. As always risk management is key but also sometimes you fall into a great opportunity to start building long....
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