A Bullish Forecast for Litecoin (LTC) by Master Trader Bluntz
A crypto strategist known as Bluntz, who has achieved the prestigious “Master Trader” rank on the digital asset exchange Bybit, is optimistic about the future of Litecoin (LTC). With a following of 315,900 on the social media platform X, Bluntz believes that LTC is primed for a significant upward movement against both the US dollar and Bitcoin (BTC).
Bluntz, who follows the Elliott Wave theory, suggests that LTC has completed an ABC corrective wave against the US dollar and is showing a bullish swing failure pattern (SFP) on its Bitcoin pair. According to this theory, a bullish asset typically experiences a new five-wave rally following an ABC correction. Additionally, a bullish SFP indicates a reversal in price direction, where strong demand outweighs selling pressure.
Expressing his optimism, Bluntz states, “LTC of all things is trading like the market knows an ETF (exchange-traded fund) is imminent, very strong against USD pair and a weekly SFP on the BTC pair. I haven’t seen something that looks as clearly bullish as this in a while.”
Based on Bluntz’s analysis, he predicts that Litecoin will break through resistance at $147, establish it as support, and potentially reach $180, a level last seen during the 2021 bull market.
Bluntz is not alone in his bullish outlook on Litecoin. In December, experienced trader Peter Brandt shared his optimism with his 777,300 followers on X, stating that Litecoin “has the potential to become another powerful chart” after surpassing $100.
As of the time of writing, Litecoin is trading at $119.60.
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