Litecoin breaks LTC/BTC downtrend line again; BULLISH

2020年8月19日

This is the fifth time in the last 5 years that LTC has broken the downtrend line of the LTC:BTC ratio. Each of the 4 times in the past LTC has not only appreciated against BTC but also greatly against the U.S. dollar.

1) May 2015 to July 2015: the low of the LTC:BTC ratio was hit in May at 0.005840 when LTC was $1.36. Two months later the LTC:BTC ratio rose to 0.033880 and LTC rose to $8.97, up 560%.

2) Mar 2017 to May 2017: the low of the LTC:BTC ratio was hit in March at 0.002750 when LTC was $3.74. Two months later the LTC:BTC ratio rose to 0.021890 and LTC rose to $39.11, up 946%.

3) Dec 2017 to Feb 2018: the low of the LTC:BTC ratio was hit in December at 0.005346 when LTC was $80.89. Two months later the LTC:BTC ratio rose to 0.025004 and LTC rose to $252.86, up 213%.

4) Dec 2018 to Apr 2019: the low of the LTC:BTC ratio was hit in December at 0.006828 when LTC was $22.54. Four months later the LTC:BTC ratio rose to 0.018946 and LTC rose to $99.43, up 341%.

The average gain LTC made in these downtrend line breaks was 515% in 2.5 months. Even if the min gain of 213% is reached again, LTC could be $126 in the next couple of months.