Litecoin Could Surge By 20% Soon Because Of A Buy Signal

Litecoin could surge by 20% after flashing a buy signal on the weekly timeframes. This could send the crypto market into a new alt season and in today’s Litecoin news we see the main factors that will pave the way for the next major altcoin boom.

Bitcoin has been stealing the spotlight for months as a store of value so Litecoin as the silver of Bitcoin could surge soon once again. LTC led the crypto market in breaking out into powerful rallies and recently got triggered by a new buy signal on the TD sequential indicator on the weekly timeframes on LTC/BTC charts. This signal proves to be accurate especially in the past for other cryptocurrencies as well and has now been calling for the top in Bitcoin and bottom in XRP.

Litecoin could be the next to surge against Bitcoin as well and it could bring the new altcoin season as well. When the timeframe signal is higher, it is more likely to show better results. A buy signal on the weekly timeframes is also very important as the last two times these weekly TD indicators appeared on the LTC/BTC charts was back in 2019 and 2018. Both times, it acted as a short-term bottom which led the assets out of their depths and new highs.

The shifts in performance by LTC against BTC also started the alt season at that time. The Alt season is an extended period of time when the alternative crypto asset outperforms Bitcoin. This happens when Bitcoin is stagnant and it is trading sideways much like what is happening at the moment. Furthermore, the alt season may soon be upon the cryptocurrency market and we can see that the BTC dominance has broken down from the long trendline and reconfirmed it as a new support level before falling once again.

The dominance of Bitcoin could get lower as we previously saw at the peak of the crypto hype bubble. This suggests that the altcoins will soar compared to Bitcoin and the investors will recoup their losses. Altcoins have underperformed against Bitcoin except for Tezos, Chainlink, and some smaller altcoins. However, investors have to be careful if BTC explodes in any direction since the volatility could crush the altcoins.