FieryTrading

🔥 Litecoin: Predicting The Next Cycle's Top

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar
A lot of investors have been looking at LTC over the last couple of days because it's outperforming the market by quite a margin. Furthermore, it's actually holding up quite well whilst BTC has been dropping like a rock as of late.

Below you find my short-term LTC/ BTC analysis.

With LTC seeing big gains, I think it's time to take at a long-term perspective. Over the next two years, I think it's a realistic expectation that LTC will move back to the current ATH values of around $400.

LTC is an old token, so it's to be expected that newer more hyped project can see bigger long-term gains. If anything, LTC will survive this bear-market where a lot of alts will struggle and/or die.

On a more positive note, one could argue that LTC is forming a massive 8-12 year bullish triangle pattern , with $400 being the top resistance. A break out from there could easily lead to a big move upwards, but that's still to early to say.

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