This is another long term trend to be bullish on, I found this to be a great example of why I think that LTC is on its way back to where it deserves to be. The LTC/ BTC pairing is interesting to follow because the price of the USD seems to go up no matter what. The price of BTC does not need to go down for LTC to gain value and rise out of this 4-5 year long descending wedge . And if/when BTC goes up? LTC often follows right behind. I have highlighted what I believe to be most of the key resistances in regards to dominance levels. Blue lines are the final levels before seeking new territories on either side. Green is where it is at today. If the LTC/ BTC pairing were to chug its way back to the upper limits and 1 BTC was worth $50,000 the corresponding price of LTC would be 1250. I am not saying BTC will drop down there (I actually wish it would so I can get more). With all this being said, it is not unreasonable to think that LTC has broken out of this wedge just in time for a Christmas run up to some big numbers. All in all, as I have mentioned in my previous post, only LTC and XRP have been able to remain in the top 15 without having reached and surpassed their previous all time highs. They both have a proven stable spot in the crypto sphere, its only a matter of time before the market realizes they aren’t going anywhere.
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