This Litecoin Fractal Says Time Is Running Out To Accumulate At Low Prices

Tony "The Bull" Severino

1 year ago

3 mins read

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Litecoin as a cryptocurrency has longevity behind it, digital scarcity, and a code that’s just like Bitcoin’s. Yet the reputation of the altcoin has been so tarnished, it has long lagged behind the rest of the market after being the once clear leader.

Signs are mounting that this could soon reverse, and according to a fractal from past market cycles, time is running out to accumulate the silver to Bitcoin as digital gold at such low prices.

Digital Silver Ready To Shine After Several Years of Dormancy

When talking precious metals, the conversation might focus on gold but silver is always part of it. In crypto, Bitcoin definitely steals the limelight, but its Ethereum, Chainlink, and an army of DeFi tokens that capture the interest and excitement. All while the digital version of silver mostly sits out.

Litecoin was popular during past bull markets, but this one – not so much. Whether it was due to the asset’s founder selling the top of the last rally on his followers, or the fact it has barely moved since its halving, Litecoin has stayed in the dark.

Technicals are lighting up once again, however, and it appears as though things are about to change for Litecoin. Grayscale Investments has been loading up on the altcoin, and according to a fractal from the last cycle shared by a highly accurate crypto analyst, time is running out to buy some this cheap.

Layering previous Litecoin price action over the current cycle produces shock-worthy results | Source: LTCUSD on TradingView.com

Before writing off fractals as a fallacy, this same analyst predicted the Bitcoin bull run from the $10,000 breakout to beyond using a similar setup. The trajectory puts each Litecoin at a couple thousand dollars.

Litecoin Breaking Out Against Bitcoin Will Drive Dollar Climb

Making things more interesting, another well-respected crypto analyst joined in the conversation suddenly happening surrounding Litecoin. They shared a chart highlighting the altcoin’s Bitcoin trading pair, which lacks a breakout compared to past cycles.

LTC is also ready to pop against Bitcoin, according to past cycles | Source: LTCBTC on TradingView.com

While this might immediately present as bearish for Litecoin, all reversals start somewhere – and the current level appears to be where they start.

Is it finally Litecoin’s time to shine? Technical analysis also supports a bullish breakout in the making. Litecoin has been forming a massive bottoming structure, and there’s a bullish divergence on the RSI along with the MACD flipping bullish. For more reasons to be bullish on Litecoin, go here.

Featured image from Deposit Photos, Charts from TradingView.com

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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