Certified market analyst Tony Severino revealed that the Litecoin 2M Bollinger bandwidth has reached recent lows. He explained what this means and how it provides a bullish outlook for the altcoin.
Litecoin’s 2M Bollinger Band hits recent record lows
In Post XSeverino stated that Litecoin 2M Bollinger Band width continues to set recent records, representing the highest volatility in LTCUSD history. The expert further revealed that the 2M candle closed above like a Hammer Bollinger syndrome base despite the negative wick.
He explained that this gives a technical picture of a bullish sentiment for Litecoin. The analyst added that a close above $120 at the end of 2025 will trigger a buy signal for LTC. From a fundamental perspective, LTC just gained its first ETF spot in the US, which provides a bullish outlook for the altcoin. However, it’s worth noting that the ETF is currently lagging Solana and Hedera ETFs in terms of influence.
Meanwhile, Severino also painted bullish image of Litecoin, making comparisons between LTC and ZCash Charts. This suggested that LTC could witness a parabolic rally similar to ZEC, which saw a 10x augment from its low around $40. This was around the time when the analyst revealed that LTC was at the “final boss resistance” level based on the monthly SuperTrend.
Cryptocurrency analyst Hal also recently delivered bullish outlook for Litecoin, predicting a 300x augment. However, the analyst said a drop to around $30 before LTC goes parabolic is likely. He urged investors to take advantage of such a decline because they could enjoy huge profits when LTC breaks into positive territory after such a long period of consolidation.
99% chance of rising above $300
Cryptocurrency analyst XForce stated that Litecoin has a 99% chance of rising above $300 as it nears nine years of accumulation. The attached chart showed that LTC could reach $345 as part of the expected uptrend next year. Meanwhile, a drop below $39 could invalidate this forecast.
Meanwhile, a cryptocurrency analyst stated Bitcoinsensus that Litecoin is preparing for its biggest macro move. Based on technical data, the analyst noted that in this case LTC could augment to between $1,000 and $2,000 market cycle. Bitcoinsensus noted that the altcoin has already seen a six-year sideways consolidation, suggesting it was well-positioned for a projected parabolic upside rally. The attached analyst chart showed that LTC could achieve these goals next year.
At the time of writing, Litecoin is trading at around $94, down over 5% in the last 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
