Related Reading | This LTCUSD Fractal Says Time Is Running Out To Accumulate At Low Prices
Litecoin, often referred to as digital silver, in the past has led one crypto analyst, who says that Litecoin – like Dogecoin did – will soon “teleport” higher on the BTC trading pair.
A boost on the BTC trading pair, will cause the USD value of Litecoin to finally catch up to the rest of its crypto industry brethren.
Is Litecoin ready to "teleport" much like Dogecoin has? | Source: LTCBTC on TradingView.com
LTC Breakout Against BTC Could End Laggard Phase For Leading as the trader claims.
Layered behind the LTCBTC price action on the chart above, is the DOGEBTC pair. The two altcoins have almost always followed a very similar path, with each peak and trough matching up shockingly well.
The one discrepancy? The current market cycle, where Litecoin has been left far behind for too long now, and is ready for an explosive move.
This could all end soon, and if the move ends up similar to what happened with Dogecoin, “teleport” is an appropriate term to define just how quickly the upside unfolds.
Related Reading | Five Reasons Why Litecoin Is Ready To Shine Once Again
When Dogecoin most recently broke out against Bitcoin, the DOGEBTC trading pair saw a one-day climb of nearly 1000%. Such a powerful move no doubt retraced significantly, however, the price of DOGE has remained high on the USD pair since.
A breakout against Bitcoin on 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