A broadly adopted analyst believes that one large-cap altcoin now has a compelling narrative that can gas its surge to a contemporary report excessive.
Pseudonymous analyst Kaleo tells his 685,600 followers on the social media platform X that Litecoin (LTC) seems to be mimicking its 2021 bull market sample when it shattered a diagonal resistance earlier than surging to a cycle excessive.
Based on Kaleo, LTC is repeating the same value motion however he thinks Litecoin will ascend to new all-time highs and breach the $1,000 value space, fueled by the LTC exchange-traded fund (ETF) narrative.
“LTC/Litecoin
I’ve been ready for this HTF (excessive time-frame) setup to seem like this for the reason that final halving in August of ’23.
It’s so insanely clear and easy, and with Bloomberg shifting it to the best % probability for an ETF approval this 12 months, it lastly has a story to occur.
Ship it to new all-time highs with haste.”
Wanting on the dealer’s chart, he appears to foretell that LTC will rally to as excessive as $1,200. At time of writing, LTC is price $119.02.
Earlier this week, Bloomberg ETF analyst James Seyffart said Litecoin has the best odds of getting the subsequent ETF authorized, at 90%. He additionally said the U.S. Securities and Trade Fee (SEC) has given no indication that it thinks LTC is a safety.
“There’s some extra work that must be executed on that entrance that doesn’t must occur with one thing like Litecoin. The SEC has by no means known as Litecoin a safety so, I wouldn’t be stunned in case you see Litecoin come first.”
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Test Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses you could incur are your accountability. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please be aware that The Day by day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney