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.
Related Reading | Five Reasons Why Litecoin Is Ready To Shine Once Again
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.
Related Reading | Altcoins Bleed After Tesla Bitcoin Buy, BTC Dominance Hints At Deception
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
