A generally followed analyst believes that an Altcoin with a large cap now has a mandatory story that will feed its rise into a new record high.
Pseudonym analyst Kaleo tells his 685,600 followers on the social media platform X that Litecoin (LTC) seems to imitate his 2021 bull -market pattern when it shattered a diagonal resistance before he rose to a High Cycle.
According to Kaleo, LTC is repeatedly A similar price promotion, but he thinks Litecoin will take off to new all time and spend the $ 1,000 price area, fed by the LTC Exchange -Traded Fund (ETF) story.
“LTC/Litecoin
I have waited for this HTF setup (High Time Frame) that looks like since the last halving in August of ’23.
It is so incredibly clean and simple, and with Bloomberg that brings it to the highest % chance of an ETF approval this year, it finally has a story.
Send it to a hurry to new all time. ‘
Looking at the graph of the trader, he seems to predict that LTC will gather up to $ 1,200. At the time of writing, LTC is worth $ 119.02.
Earlier this week, Bloomberg ETF analyst James Seyffart said Litecoin has the highest chance of getting the next ETF approved, with 90%. He also said that the US Securities and Exchange Commission (SEC) has not given an indication that she thinks LTC is a security.
“There is some more work that has to be done on that front that does not have to happen with something like Litecoin. The SEC has never called Litecoin a security, so it would not surprise me if you see Litecoin in the first place. “
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Generated image: midjourney