Litecoin Emerges as Next Potential Breakout Candidate
The market research community Ultimate Crypto is drawing attention to Litecoin's long-term price structure. They argue that LTC is worth watching because it has a similar multi-year setup as XRP and Quant, which recently broke out of large triangle formations.
Ultimate Crypto compared the long-term structures of Litecoin, XRP, and Quant. While XRP and QNT have already broken above their respective descending resistances with gains of approximately 742.67% and 427.92%, LTC remains inside its own long-term triangle.
The charts show that all three assets formed lower highs against rising support before reaching important breakout points. XRP's chart measures an advance of around 742.67% from the lower part of its structure to around $3.0687, while Quant's two-month chart shows a similar path with a gain of approximately 427.92%.
Litecoin has not yet confirmed the same breakout as XRP and QNT. Its three-month chart shows LTC compressing inside a large triangle extending from the 2018 period, but it remains below its descending upper boundary, which currently sits in the high-double-digit to roughly $100 region on the chart.