Litecoin has been gaining momentum in latest weeks, and in response to crypto analyst Tony “The Bull” Severino, this is likely to be just the start of an explosive rally. Though Litecoin additionally began February on a decline alongside the rest of the crypto market, it has since indifferent and has recovered from these losses.
This fascinating Litecoin worth transfer has seen it outperforming towards Bitcoin. In a put up shared on social media platform X, Severino projected that Litecoin may considerably outperform Bitcoin within the coming months and pump by 1,500%.
LTC’s Rising Power In opposition to Bitcoin
Litecoin has remained comparatively quiet on this market cycle, drawing much less consideration compared to prime cryptocurrencies like Bitcoin, Solana, and XRP. Nevertheless, technical evaluation reveals that LTC has began to outperform Bitcoin, particularly prior to now two months.
Associated Studying
This pattern with Litecoin and Bitcoin was highlighted through a multi-year month-to-month candlestick chart shared by crypto analyst Tony Severino. As proven by the chart beneath, the Litcoin / Bitcoin pair has been on an uptrend after rebounding on the underside trendline of its multi-year descending channel.
Tony Severino famous that Litecoin will continue to push upwards on this channel, which is able to trigger the worth to proceed outperforming Bitcoin on the month-to-month timeframe. Concerning a worth prediction, the analyst famous two targets for the pair. The primary goal is at 0.006275 BTC, which is simply across the higher trendline of this channel. From right here, a continued breakout is predicted to push the Litecoin / Bitcoin pair to the ultimate goal of 0.02 BTC.
As of now, the LTC/BTC pair is buying and selling at roughly 0.003, which means the primary goal suggests a 110% enhance towards Bitcoin, whereas the ultimate goal factors to a 566% surge.
Litecoin Worth Targets If It Continues To Develop In opposition to Bitcoin
The expected outperformance of Litecoin towards Bitcoin locations Litecoin at new all-time highs. Offered that Bitcoin continues to commerce across the $100,000 mark and the LTC/BTC pair continues its upward trajectory, Litecoin’s first worth goal at 0.006275 BTC would correspond to a valuation of roughly $630. Ought to the pair attain the ultimate goal of 0.02 BTC, the worth may skyrocket to round $2,000.
Associated Studying
This state of affairs of Litecoin strongly outpacing Bitcoin if it continues to vary round $100,000 may set off a domino effect and trigger an altcoin season. This altcoin season may trigger capital flows from Bitcoin into the altcoin market, inflicting different altcoins to additionally outperform Bitcoin.
Nevertheless, Bitcoin could eventually start climbing past $100,000. On this case, Litecoin’s relative power on the Litecoin / Bitcoin pair would nonetheless be essential. If it continues to pattern upward even whereas the Bitcoin worth appreciates, the worth targets for Litecoin will probably be even increased. A push towards 0.006275 or 0.02 within the LTC/BTC pair amid a rising Bitcoin market would end in costs that exceed the preliminary $630 and $2,000 targets.
On the time of writing, LTC is buying and selling at $126 after just lately reaching an intraday excessive of $136.
Featured picture from Adobe Inventory, chart from Tradingview.com