A popular cryptocurrency analyst said that Litecoin’s (CRYPTO: LTC) recent price surge is indicative of a massive breakout.
What Happened: According to pseudonymous crypto analyst Kaleo, Litecoin’s recent surge appears to be “the real deal” as it has been “long overdue for a solid pump”. Kaleo tweeted, “Litecoin isn’t done”.
Kalo explains that LTC has long periods in which it slowly moves down, followed by quick pumps, “when everything else is bearish.”
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The analyst said that Dogecoin (CRYPTO: DOGE) and LTC are always a “buy when it’s boring” during bull runs because these cryptocurrencies surge. “Be patient, sell when it has a massive pump.”
Alright, starting to believe this is the real deal for $LTC / $BTC.
It’s long overdue for a solid pump.
Here’s how Litecoin works – long periods of slowly bleeding down sideways, followed by a quick pump up to .02 BTC or so when everything else is bearish. pic.twitter.com/OV9w45ml6H
— K A L E O (@CryptoKaleo) November 23, 2022
Litecoin recently surpassed Solana (CRYPTO: SOL) in terms of market capitalization, with the latter’s price tumbling as a consequence of the cryptocurrency exchange FTX’s collapse.
Price Action: LTC is trading at $77.28, up 0.09% in the last 24 hours, according to Benzinga Pro.
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