Litecoin was among the top performers in the last bull market, but during this market cycle, the cryptocurrency that once led the altcoin season is now falling far behind.
According to a cryptoanalyst’s assessment of the LTCBTC chart, however, the altcoin will be the next to follow in Dogecoin ‘s footsteps and “teleport” higher in the coming days as soon as the current range breaks through.
Crypto Analyst: Litecoin is ready to teleport similar to Dogecoin
The crypto market is on fire and coins of all market cap sizes are exploding in ROI. Top coins from the last market cycle like Bitcoin, Ethereum, Dogecoin, Binance Coin and others have since hit a new all-time high, but for one reason or another Litecoin has lagged heavily.
Related reading | This LTCUSD fractal says time is running out to accumulate at low prices
Litecoin, often referred to as digital silver, has spearheaded altcoin season in the past but lagged behind the coins this time around. That could change soon, however, according to a crypto analyst who says that Litecoin – like Dogecoin – will soon “teleport” higher up on the BTC trading pair.
A spike in the BTC trading pair will cause the USD value of Litecoin to finally catch up with the rest of its crypto-industry brethren.
Is Litecoin ready to “teleport” like Dogecoin did? | Source: LTCBTC on TradingView.com
LTC breakout against BTC could end the Laggard phase for Altcoin leadership
The graph above shows LTC trading against Bitcoin that has been in a tighter trading range for the past 300 and then a few days. As soon as this area breaks through – as expected upwards – Litecoin could “teleport”, as the trader claims.
Behind the LTCBTC price movement in the graph above is the DOGEBTC pair. The two Altmünzen almost always followed a very similar path, with each peak and each hollow fitting together shockingly.
The one discrepancy? The current market cycle where Litecoin has been left too far behind and is ready for an explosive move.
This could all end soon, and if the move ends similarly to Dogecoin, “teleporting” is a suitable term to define how quickly the uptrend is unfolding.
Related reading | Five reasons Litecoin is ready to shine again
When Dogecoin last broke out against Bitcoin, the DOGEBTC trading pair saw a one-day surge of nearly 1000%. Such a strong move has undoubtedly been significantly lower, but DOGE’s price for the USD pair has remained high since then.
A breakout against Bitcoin in the LTCBTC trading pair is exactly what Litecoin needs to get the party started. But when exactly will that happen after 300 days and counting.
Featured image from deposit photos, charts from TradingView.com
