Peter Brandt Predicts Fresh Litecoin’s Meteoric Rally to All-time High of $420
12/02/2024 18:33
As Litecoin’s price rally surpasses $100, Peter Brandt predicts a parabolic surge amid declining miner reserves and regulatory shifts.
Key Notes
- Peter Brandt predicts Litecoin will reach its all-time high of $420, marking a 265% potential upside.Litecoin’s price has surged 82% in four weeks, reclaiming the $100 milestone amid a heated altcoin season.Declining miner reserves show reduced supply pressure, supporting a prolonged bullish trend.Regulatory shifts in the U.S.
- and potential Litecoin ETF approval are driving optimism in the crypto market.
Peter Brandt, a veteran chart trader since 1975, has recently made massive predictions for Litecoin. With the ongoing rally extending for four weeks now, Litecoin LTC $118.9 24h volatility: 11.8% Market cap: $8.96 B Vol. 24h: $4.25 B has jumped 82% from the 30-day low of $64.42.
As the trading volume surpasses $3B, Peter’s prediction fuels the underlying optimism in Litecoin. With an optimistic target of $420, it reflects an impressive upside potential of 265%.
Litecoin Rally Extends in a Bullish Market
The crypto market is gaining momentum as the new bull cycle results in a heated altcoin season. Among the top performers, the Ripple-backed XRP has crossed the $2 mark and became the third biggest crypto, based on market cap.
Supporting the bullish target, the changing regulatory landscape in the United States will drive the rally. The bull market is predicted to prolong with Gary Gensler resigning as the US SEC chair and the US federal reserves reflecting intent for Bitcoin reserves.
Further, in the pro-crypto Trump administration, the chances of Litecoin ETF approval have significantly increased. Such massive changes in the growing crypto domain have directly impacted the prices of top altcoins, such as Litecoin.
Recently, in hopes of jumping on the meme coin rally, Litecoin attempted to rebrand itself as a meme coin in an X post.
Peter Brandt Expects the Fresh Rally in LTC Prices
Similar to the XRP rally, Peter Brant shares a Litecoin price chart over X, predicting a parabolic rise like XRP. The chart expert highlights the million-dollar question: “Can LTC pull another XRP????”
Based on Peter’s chart, the LTC price rally has surpassed the $114.98 peak, marking a change of character in the price trend. This has increased the chances of a prolonged rally to hit the ATH of $420.
Litecoin Market Performance
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Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
