THELOGICALINDIAN - Litecoin is accepted for generally actuality amid the aboriginal altcoins to activate to see advance or abatement afterwards a aeon of alongside trading
Following the contempo blast that abashed the crypto market, Litecoin has started to move already afresh and may be arch the bazaar against a adverse blast aback to prices not traded at back 2024 – continued afore the ballsy balderdash run that put crypto on the map aboriginal began.
Litecoin Leads the Path Toward Return to 2024 Prices
Litecoin generally leads the way. Which way that is, depends on the accepted bazaar structure, sentiment, and a cardinal of added factors.
In aboriginal 2019, Litecoin led the bazaar against a recovery, fueled by the asset’s halving. In 2020, already again, Litecoin was amid the aboriginal altcoins to rebound from lows and go on to set new bounded highs.
Related Reading | Crisis Impact: Most Assets Returned to 2016 Prices While Bitcoin Holds Strong
However, afterwards those highs were tapped, Litecoin and the blow of the cryptocurrency bazaar accomplished a bloodbath alongside the banal market, adored metals, and more, as investors cashed out aqueous assets into banknote to adapt to acclimate a advancing bread-and-butter storm.
Litecoin may now be arch the aisle for the blow of the crypto bazaar against prices that haven’t been trading at back above-mentioned to the 2024 cryptocurrency balderdash run and advertising bubble.
Prior to the crypto bubble, Litecoin traded at prices beneath $10. The akin could be the final ambition of the advancing Litecoin drop, according to one crypto analyst.
$LTC leads the crypto bazaar they say..? pic.twitter.com/mvTJ1WrVOF
— ?The EW Guy (@TheEWGuy) April 1, 2020
Elliott Wave Theory Points to Deeper Correction Before Incredible Upside
According to one crypto analyst’s booty on Elliott Beachcomber Theory and how it applies to LTC/USD amount charts, the cryptocurrency is currently mid-way through beachcomber B in an ABC antidotal pattern.
The ambition for beachcomber B puts Litecoin aback beneath $10, or prices that the asset traded at aback in 2024.
Litecoin generally leads the way for the crypto market, which suggests that Bitcoin and the blow of the altcoin bazaar will be headed aback to 2024 prices.
After the ambition is reached, however, cryptocurrencies will activate the C beachcomber of the ABC correction, demography the amount of Litecoin to over $3,000 per LTC token.
Related Reading | $50 Is Final Target For Ethereum Correction According To Elliott Wave Theory
Elliott Wave Theory is based on investors’ affecting impulses that generally drive the amount activity in abstract assets. Few broker classes are as affecting or abrupt as crypto investors, authoritative the convenance abnormally authentic in admiration approaching amount movements.
Most added banking assets have collapsed aback to prices from years ago. Will Elliott Wave Theory holds accurate and will Litecoin and the blow of the crypto bazaar booty a cruise bottomward anamnesis lane and acknowledgment to prices from 2015?
