Crypto analyst Tony Severino mentioned Litecoin is about to drag an XRP, suggesting that the coin might quickly take pleasure in a parabolic rally. The analyst alluded to a bullish indicator on LTC’s chart, which confirmed that the crypto might witness this parabolic rally.
Litecoin Is About To Pull An XRP, 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 means 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 the way excessive Litecoin might rally when this transfer to the upside happens. However, 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 is value mentioning that the crypto analyst had additionally not too long ago made an identical evaluation for XRP.
Before 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 might surpass.
Therefore, this Litecoin evaluation is undoubtedly one to look at because the 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 catching up, contemplating it’s up over 24% within the final seven days.
The Next Dino Coin To Run?
Like Severino, crypto analyst Crypto Snorlax has additionally urged 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 on this evaluation, Crypto Snorlax revealed two attention-grabbing findings.
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Firstly, he famous that there’s a robust correlation between outdated altcoins. With XRP recording a 5x value enhance 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.
Therefore, Litecoin is effectively primed for a major rally, having flipped this resistance to assist. The analyst’s accompanying chart confirmed that LTC might take pleasure in as much as a 3x value enhance and attain as excessive as $450, which might mark a brand new ATH for the crypto.
At 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
