Crypto Analyst Tony Severino Said Litecoin is an XRP puller, suggesting that the coin may soon enjoy a parabolic rally. The analyst pointed to a bullish indicator on the chart of LTC, which showed that the crypto could witness this parabolic rally.
Litecoin is about to pull an XRP, here’s why
In an X post, Tony Severino said that Litecoin is about to pull an XRP, noting that the crypto is now above the monthly Upper Bollinger Band. This suggests that LTC has made the necessary price correction and is now well poised for a bullish reversal. The accompanying chart from the analyst showed that an upside was already forming for the crypto on the monthly chart.
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Severino did not give a target for how high Litecoin could rally when it reverses. However, the chart showed that the $150 and $300 price levels were in focus, a rally that could eventually pave the way for LTC to rally to its current level. All-Time High (ATH) of $412. Notably, CryptoAnalyst also recently conducted a similar analysis for XRP.
Before now, Severino pointed out that XRP is just above the monthly upper Bollinger Band as the BB width expands from the tightest squeeze in XRP history. He added that it is surprising and shocking. since then, XRP has enjoyed A parabolic rally of more than 200% and now above the $2 mark, a level the analyst’s chart showed the crypto could cross.
Therefore, this Litecoin analysis is undoubtedly one to watch as crypto analysts predict that LTC will pull an XRP. Litecoin has yet to enjoy its bull run, although it is already catching up, seeing as it is up more than 24% in the past seven days.
Next Dino Coin Run?
Like Severino, crypto analyst Crypto Snorlax has also suggested that Litecoin will be next.Dino coin‘ To see a parabolic rally. in one X postThe analyst highlighted a chart overlaying the price action of XRP over LTC. Based on this analysis, CryptoSnorlax revealed two interesting findings.
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First of all, he noted that there is a strong connection between the old altcoins. with XRP recording A 5x price increase from its lower range, analysts expect Litecoin to soon follow. Second, Crypto Snorlax revealed that Litecoin broke above $115, an 18-month resistance.
Therefore, Litecoin is well primed for a significant rally This opposition flipped to support. The accompanying chart from the analyst showed that LTC could enjoy a 3x increase in price and reach $450, which would mark a new ATH for the crypto.
At the time of writing, Litecoin is trading at around $121, up more than 20% in the last 24 hours, according to data From CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
