One altcoin is poised to break out of its shell and outperform Bitcoin, according to a leading crypto analyst.
A pseudonymous trader and strategist known in the industry as NebraskanGooner tells his 48,000 Twitter followers that he expects Litecoin to gain ground against Bitcoin in the next few months as the LTC/BTC base pair flashes multiple bullish signals.
“Litecoin – BTC pairing – Confirmed downtrend break. – High volume. – Top Goon X buy signal. Expect LTC to outperform in the near future. 45% and 175% upside potential.”
Based on the trader’s chart, it seems that he sees LTC/BTC moving in a parabola that would more than double the value of the pair by November.
Fellow trader JJcycles tells his 11,000 Twitter followers that he also believes Litecoin will likely grab headlines in the coming weeks as the seventh-largest cryptocurrency prepares for a bullish breakout.
“LTC/BTC is ready to break out of a multi-month falling wedge…Litecoin is likely to dominate this market for the coming weeks, make sure you’re ready for it.”
Not all traders are sold on Litecoin. TraderXO is not yet jumping the gun unless LTC/BTC can reclaim and retest a key level.
“Waiting for the range low/yearly open reclaim before jumping in. Blue arrow trigger.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/NextMarsMedia
