Litecoin Cycle Projection of 2021 - Acceleration To $2000
The logarithmic chart of LTCUSD has remarkable repeating patterns of bear- and bullmarkets.
If LTC repeats its behaviour after breaking ATH, we could see $2000 as the top of this bull market.
When LTC broke out of its bear market in 2017 it moved in 3 impulsive waves to its old ATH where it retested and eventually made a new ATH of $380.
Litecoin seems to be repeating this scenario while reaching its ATH of $380.
The two bear markets of LTCUSD were also somewhat similar.
A triangular formation formed by 3 lower highs and a breakout that caused the start of a bullmarket.
Following this logarthmic channel and expecting LTC to continue to repeat its behaviour, the price target would be around $2000.
This price mark represents a $132 billion market cap for LTC and an increase of 429% at current price.
We can see LTC following a clear trend in shortterm on the daily logarithmic chart:
We can expect LTC to break out further upwards once we break the ATH of $380.
With ETH decoupling of BTC and ETH rising against USD, money starts to flow deeper into largecap coins.
Check the Related Ideas section if you haven't read my previous idea on this topic.
Feel free to share any of your own LTC-related work and your thoughts in the comments.
I appreciate the feedback I received lately, so thank you for that!
Follow me if you'd like to see more content similar to this! 👋
If LTC repeats its behaviour after breaking ATH, we could see $2000 as the top of this bull market.
When LTC broke out of its bear market in 2017 it moved in 3 impulsive waves to its old ATH where it retested and eventually made a new ATH of $380.
Litecoin seems to be repeating this scenario while reaching its ATH of $380.
The two bear markets of LTCUSD were also somewhat similar.
A triangular formation formed by 3 lower highs and a breakout that caused the start of a bullmarket.
Following this logarthmic channel and expecting LTC to continue to repeat its behaviour, the price target would be around $2000.
This price mark represents a $132 billion market cap for LTC and an increase of 429% at current price.
We can see LTC following a clear trend in shortterm on the daily logarithmic chart:
We can expect LTC to break out further upwards once we break the ATH of $380.
With ETH decoupling of BTC and ETH rising against USD, money starts to flow deeper into largecap coins.
Check the Related Ideas section if you haven't read my previous idea on this topic.
Feel free to share any of your own LTC-related work and your thoughts in the comments.
I appreciate the feedback I received lately, so thank you for that!
Follow me if you'd like to see more content similar to this! 👋
Comment:
Great buying opportunity for LTCUSD:
