Why The Litecoin Revival May Simply Be Starting


Litecoin’s halving is a bit of over a month away, and traditionally, the cryptocurrency has peaked previous to this recurring occasion.

However this time very nicely could possibly be completely different, as LTCUSD is exhibiting extra similarities with a earlier level — simply earlier than an unbelievable breakout efficiency. With a comparable technical setup returning, will the altcoin soar just like the final time? Or like previous halvings, is the highest already in?

The Looming Litecoin Halving Paradox

Ask the common Bitcoiner, and so they’ll inform you a similar factor. “Wait till after the halving.” After a number of recurring cycles, a big majority is satisfied that the BTC halving alone drives worth will increase.

In the meantime, in Litecoin, it’s considered as a “promote the information” fashion occasion the place worth peaks nicely forward of the halving then merely goes stagnant. But the LTC halving options the identical supply-reducing mechanics, however is shrugged off as not having any optimistic influence in any respect.

This creates an ironic scenario the place both the halving has an influence, or it doesn’t. As a substitute, the worth habits carefully correlated with every halving, may merely be a correlation, not causation.

If that’s certainly the case, the market may in the end face a situation the place Litecoin rallies shortly after its halving and Bitcoin peaks earlier than its — a scenario only a few could be ready for. It’s additionally supported by a slew of technicals

Will lightning strike twice?| LTCUSD on TradingView.com

Why LTC Technicals Inform A Very Totally different Story

The thought is supported by the month-to-month LTCUSD Stochastic reaching a degree not seen since 2017 and a greater than 8,000% spike. After reaching overbought circumstances, Stoch turned again up indicating a strengthening pattern. The identical additional technical setup is required for a stronger push increased.

Nevertheless, there may be loads of confluence with different technical alerts. For instance, the LMACD is crossed bullish and the histogram reveals rising momentum for a number of months in a row.

Litecoin has additionally reclaimed the Bollinger Band foundation line, a easy 20-month shifting common. If it could possibly maintain, LTCUSD may make a run to the higher band. In distinction, additional tightening within the bands is perhaps essential earlier than volatility resumes.

If Litecoin can shut above the higher Bollinger Band within the coming months, push above the zero line on the LMACD, and revisit overbought circumstances a second time after this one, we may have a lightning strike twice scenario in LTC.

This chart initially appeared in Problem #10 of CoinChartist (VIP). Join a free subscription.





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