Market Expert Predicts Litecoin Price Could Rise by 1,000% to 2,000%
The price of Litecoin (LTC) has shown indecisiveness this year, particularly in the past week, despite Bitcoin reaching a new all-time high. LTC did not capitalize on the bullish momentum in the crypto market.
Chartered Market Technician Tony Severino predicts that Litecoin may be undervalued and could experience significant price growth in the coming months. His analysis suggests a potential bull rally of 1,000% to 2,000% based on the Stochastic Oscillator's movement on the 3-month LTC price chart.
Key Points from Severino's Analysis
- The Stochastic Oscillator measures price momentum and identifies trend reversals.
- LTC’s Stochastic is approaching the 50 mark, indicating increasing bullish sentiment.
- A successful breach of the 50 level could signal the start of a substantial rally, similar to past occurrences.
- Historically, LTC's price surged by 4,900% when the Stochastic crossed this threshold in 2017.
- Severino estimates a price rise of at least 1,000% by the end of 2026.
As of now, LTC is priced around $96, reflecting a decline of over 5% in the last 24 hours.
