Litecoin (LTC) price could surge up to 5 times, reaching $600 to $800, if it continues to follow a similar trend to Ripple (XRP) that has been ongoing since 2018. This bullish view comes after Litecoin’s remarkable profit surge, hitting a record $765 million. Currently, the profit has decreased to $711 million but still remains at high levels. At the time of writing, Litecoin is around $123, slightly lower than the daily peak of $126. Analyst Charting Guy on platform X has compared the performance of Litecoin and Ripple over the past 7 years. His analysis shows that these two cryptocurrencies have had similar trends, reaching similar highs and lows in the same time periods. Now, if this pattern repeats, Litecoin’s price may grow like Ripple and reach $600 to $800. It is worth mentioning that Litecoin and Ripple are on track to receive an ETF approval. Bloomberg analysts predict Litecoin to be the next option for ETF approval after Ethereum. In addition, Polymarket has declared an 84% chance of approval for this fund. On the other hand, data from IntoTheBlock show that Litecoin may fluctuate between $90 to $130 in the next three months, allowing traders to buy at the price floor and sell at the ceiling. In the 4-hour chart, Litecoin is in an uptrend channel, but its fall below the middle line indicates a weakening uptrend. The Chaikin Money Flow (CMF) indicator has decreased to -0.25, indicating selling pressure. Furthermore, the Relative Strength Index (RSI) is below 50 but rising, which could be a sign of increasing buying power. Currently, the $120 level is a key support, and crossing $130 could initiate a strong uptrend. Visit the real-time digital currencies price page to monitor all tokens and cryptocurrencies live.
