Litecoin is still valued at about $200. The altcoin has not set a new all-time high like Bitcoin, Ethereum, and the other top ten coins, but it has been in the top ten for its entire life.
A signal has emerged – over some of the highest timeframes – that may mean that the long downtrend towards Bitcoin is about to come to an explosive end.
Few coins have had as tough a time returning from the past bull market as Litecoin has. The only other coin in the top ten to fail so badly is XRP, and the coin’s parent corporation, Ripple, is embroiled in a legal dispute with the SEC.
Litecoin has no such problem to keep its values down, but the coin is yet to do much better than its 2019 highs, and is not even halfway recovered to its previous all-time high of about $418 per LTC.
Meanwhile, Ethereum has recently surpassed $2,000, and Bitcoin is now priced at about $60,000 per coin – more than three times its previous record.
Because of the increase in Bitcoin but subsequent stagnation in Litecoin, the altcoin has taken a nosedive in terms of the LTCBTC trading pair. However, with a number of possible reversal signals emerging on the ratio, things could quickly turn around for an extended phase.
A TD 13 signal has triggered on the LTCBTC monthly | Source: LTCBTC on TradingView.com
After hitting its height, Litecoin dropped for nine months in a row against Bitcoin before a TD 9 signal emerged. The altcoin then saw a short-term boost with its halving in 2019, but after that, the crypto industry has been all about Bitcoin ever since.
Following a bear market rebound, the altcoin plummeted for another 25 months in a row, ignoring another TD 9 and hitting a TD 13 countdown on monthly timeframes.
An explosive breakout is on the way, coinciding with a narrowing trend on the Relative Strength Index.
The same powerful 13 countdown is evident on quarterly timeframes also | Source: LTCBTC on TradingView.com
The TD 13 has also appeared on more powerful timeframes, such as the LTCBTC quarterly map seen above.
As zoomed in on the table below, there’s also a TD 9 over the last week on regular timeframes.
A less powerful TD 9 on daily timeframes may have kicked off the turning point | Source: LTCBTC on TradingView.com
A TD 9 or TD 13 signal indicates that a pattern has reached its limit and is about to reverse. And it has already done so since the regular TD 9 was activated.
The LTCBTC pair is now bigger, and green is slowly forming in a sea of red. If the tides eventually turn and Bitcoin values remain relatively high, the price of Litecoin per coin could skyrocket as it tries to keep up with the likes of its digital gold equivalent, Ethereum, and the rest of the altcoin room.
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