Crypto analyst Tony Severino mentioned Litecoin is about to drag an XRP, suggesting that the coin may quickly take pleasure in a parabolic rally. The analyst alluded to a bullish indicator on LTC’s chart, which confirmed that the crypto may witness this parabolic rally.
Litecoin Is About To Pull An XRP, Right here’s Why
In an X put up, Tony Severino mentioned that Litecoin is about to drag an XRP, noting that the crypto is now above the month-to-month upper Bollinger Band. This implies that LTC has undergone the mandatory value correction and is now well-primed for a bullish reversal. The analyst’s accompanying chart confirmed {that a} wick to the upside was already forming for the crypto on the month-to-month chart.
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Severino didn’t give a value goal for a way excessive Litecoin may rally when this transfer to the upside happens. Nevertheless, the chart confirmed that the $150 and $300 value ranges had been in view, a rally that might finally pave the way in which for LTC to rally to its present all-time high (ATH) of $412. It’s value mentioning that the crypto analyst had additionally just lately made an analogous evaluation for XRP.
Prior to now, Severino talked about XRP is simply above the month-to-month higher Bollinger Band simply as BB Width expands from the tightest squeeze in XRP historical past. He added that that is going to shock and awe. Since then, XRP has enjoyed a parabolic rally of over 200% and is now above the $2 mark, a stage the analyst’s chart confirmed the crypto may surpass.
Due to this fact, this Litecoin evaluation is undoubtedly one to observe for the reason that crypto analyst predicts that LTC will pull an XRP. Litecoin has but to take pleasure in its bull run, though it already seems to be to be catching up, contemplating it’s up over 24% within the final seven days.
The Subsequent Dino Coin To Run?
Like Severino, crypto analyst Crypto Snorlax has additionally recommended that Litecoin would be the subsequent ‘Dino coin’ to witness a parabolic rally. In an X post, the analyst highlighted a chart overlaying XRP’s value motion over LTC’s. Based mostly on this evaluation, Crypto Snorlax revealed two attention-grabbing findings.
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Firstly, he famous that there’s a robust correlation between previous altcoins. With XRP recording a 5x value improve from its backside vary, the analyst expects Litecoin to observe shortly. Secondly, Crypto Snorlax revealed that Litecoin simply broke above $115, an 18-month resistance.
Due to this fact, Litecoin is nicely primed for a major rally, having flipped this resistance to assist. The analyst’s accompanying chart confirmed that LTC may take pleasure in as much as a 3x value improve and attain as excessive as $450, which might mark a brand new ATH for the crypto.
On the time of writing, Litecoin is buying and selling at round $121, up over 20% within the final 24 hours, in accordance with data from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com
