Licensed market analyst Tony Severino has revealed that the Litecoin 2M Bollinger band width has hit new lows. He defined what this implies and the way it gives a bullish outlook for the altcoin.
Litecoin’s 2M Bollinger Band Hits New File Lows
In an X submit, Severino said that the Litecoin 2M Bollinger Band Width has continued to set new document lows, representing the tightest volatility in LTCUSD historical past. The knowledgeable additional revealed that the 2M candle closed as a Hammer above the Bollinger Band foundation regardless of the wick to the draw back.
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He defined that this provides the technical image a bullish bias for Litecoin. The analyst added {that a} shut above $120 on the finish of 2025 would set off a purchase sign for LTC. From a fundamentals angle, LTC simply bought its first spot ETF within the U.S., which gives a bullish outlook for the altcoin. Nonetheless, it’s price noting that the ETF is presently lagging behind the Solana and Hedera ETFs when it comes to inflows.
In the meantime, Severino had additionally painted a bullish image for Litecoin, drawing comparisons between the LTC and ZCash charts. That recommended that LTC may witness the same parabolic rally to ZEC’s, which has recorded a 10x rally from its low of round $40. This was across the time when the analyst revealed that LTC was on the |remaining boss resistance” primarily based on the month-to-month SuperTrend.
Crypto analyst Hal additionally not too long ago supplied a bullish outlook for Litecoin, predicting a 300x rally. Nonetheless, the analyst said {that a} drop to round $30 was possible earlier than LTC’s parabolic rally. He urged traders to make the most of such a dip, as they may get pleasure from large good points when LTC breaks out to the upside after this lengthy interval of consolidation.
99% Likelihood Of A Rally Above $300
Crypto analyst XForce said that Litecoin has a 99% likelihood of rallying above $300 as it’s now approaching 9 years of accumulation. His accompanying chart confirmed that LTC may attain $345 on this projected uptrend, which is anticipated to occur someday subsequent yr. In the meantime, a drop beneath $39 may invalidate this prediction.
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In the meantime, crypto analyst Bitcoinsensus said that Litecoin is gearing up for its largest macro transfer. Primarily based on the technicals, the analyst remarked that LTC may rally to between $1,000 and $2,000 on this market cycle. Bitcoinsensus famous that the altcoin has already seen six years of sideways consolidation, suggesting that it was nicely primed for this projected parabolic rally to the upside. The analyst’s accompanying chart confirmed that LTC may attain these targets subsequent yr.
On the time of writing, the Litecoin value is buying and selling at round $94, down over 5% within the final 24 hours, in accordance with knowledge from CoinMarketCap.
Featured picture from iStock, chart from Tradingview.com
