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Cryptographic analyzer Tony Severino He said that Litecoin is on the verge of withdrawing XRP, suggesting that the coin may soon enjoy a parabolic rally. The analyst hinted at a bullish indicator on the LTC chart, which showed that the cryptocurrency could see this parabolic rise.
Litecoin is about to withdraw XRP, here’s why
In X’s post, Tony Severino said that Litecoin is about to withdraw XRP, noting that the cryptocurrency is now above the monthly average. Upper Bollinger Band. This indicates that LTC has undergone the necessary price correction and is now well prepared for a bullish reversal. The accompanying analyst chart showed that a bullish wick is already forming for the cryptocurrency on the monthly chart.
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Severino did not provide a price target for how high Litecoin could rise when this move to the upside occurs. However, the chart showed that the $150 and $300 price levels were on the horizon, a rally that could eventually pave the way for LTC to rise to its current level. All time high (ATH) Worth $412. It is worth noting that a cryptocurrency analyst recently conducted a similar analysis of XRP.
Before now, Severino reported that XRP is sitting just above the monthly upper bound of the Bollinger Band just as the BB Width expands from the tightest squeeze in XRP history. “This will come as a shock and awe,” he added. since then, I enjoyed XRP A parabolic rally of more than 200% is now above the $2 mark, a level that the analyst chart showed the cryptocurrency could surpass.
Therefore, this Litecoin analysis is undoubtedly one to watch as the cryptocurrency analyst predicts that LTC will withdraw XRP. Litecoin has yet to enjoy its bull run, although it already looks like it is catching up, considering that it is up more than 24% in the past seven days.
Next dinosaur coin to be played?
Like Severino, Crypto cryptocurrency analyst Snorlax also suggested that Litecoin will be the next coin.Dino coin“To witness an equivalent march. In Share XThe analyst highlighted a chart showing the price movement of XRP on LTC. Based on this analysis, Crypto Snorlax revealed two interesting findings.
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First, he pointed out that there is a strong relationship between legacy altcoins. with Register XRP With a 5x price increase from its lower range, the analyst expects Litecoin to follow soon. Second, Crypto Snorlax revealed that Litecoin just crossed the $115 level, an 18-month resistance.
Therefore, Litecoin is well poised for a significant rally This resistance was overturned To support. The accompanying analyst chart showed that LTC could enjoy a price increase of up to 3x and reach $450, representing a new ATH for the cryptocurrency.
At the time of writing, Litecoin is trading at around $121, up more than 20% in the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com
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