How Litecoin Can Follow DOGE To The Moon And Reach $2,000

How Litecoin Can Follow DOGE To The Moon And Reach $2,000

With a 181.5% boost in the 24- hour chart, Dogecoin (DOGE) is breaking every resistance towards a brand-new all-time high. On the other hand, Litecoin is revealing strong momentum and, according to a trader, it might follow DOGE’s efficiency.

Investing App Robinhood provides its users the possibility to trade with 6 cryptocurrencies: DOGE, Bitcoin, Ethereum Classic, Bitcoin Money, Bitcoin SV, and Litecoin. Trader and expert “Pentoshi” thinks DOGE’s existing cost action is originating from this platform.

Nevertheless, Litecoin has the “best-looking chart” and is among the most inexpensive to purchase in Robinhood, stated Pentoshi. These 2 aspects might assemble with DOGE and LTC mining cycles. Pentoshi included:

On top of that. $Doge and $LTC is mined together. They are Joined by blood. Miners can take revenues to LTC and it’s inexpensive compared to the Robinhood traders other choices.

Pentoshi even more included that PayPal’s crypto services have advantage LTC’s cost. In LTC/BTC trading set, Pentoshi set assistance in 444,976 satoshis and is targeting at 996,579 satoshis in the long run. The trader included the following on DOGE and LTC mining cycles:

$ DOGE and $LTC are mined together. Both have the exact same cycles revealed here: They are cyclical and duplicate their fractals. Litecoin is simply beginning! It’s all there when you zoom out. History just repeats.

Litecoin (LTC) on path to $2,000?

Information from IntoTheBlock reveals LTC signs like Net Network Development, metric to determine Litcoin’s “real” network development, Big Deals, Concentration, and others are bullish. The Futures Market Momentum is likewise bullish due to the boost in volume and open interest.

Litecoin LTC
Source: IntoTheBlock

The metric In/Out of the cash Around Cost suggests additional gratitude and assistance for LTC around $268 and $287 Over 100,000 LTC addresses purchased nearly 2 million LTC near these levels.

Litecoin LTC
Source: IntoTheBlock

In assistance of the bullish case, crypto trader Kaleo stated LTC’s cost to $1,000 is “impending” and even set a more target towards $2,000

LTC is trading at $313 with a 12.9% revenue in the 24- hour chart. In the weekly and month-to-month chart, LTC has 38.6% and 56.1% revenues, respectively.

LTC with bullish momentum in the 24- hour chart. Source: LTCUSDT Tradingview

Information from CryptoQuant suggests an increase in Coinbase premium over the previous day. In this platform, there are currently orders to offer LTC at $550 as expert Eric Thies commented. For that reason, Litecoin financiers appear to have sufficient factors to stay bullish.

Reynaldo Marquez Read More.