Did Litecoin Bottom 4 Months Ago?


I'd argue that the Litecoin bottom is in and has been in since June 13th, 2022. As with most bottoms, it's usually not known until months after the bottom has formed that it can be determined. Litecoin looks bottomed on both the USD and the BTC pair about 143 days ago. Litecoin is now up 78% from its lows against Bitcoin and 53% against the lows on the dollar.


On the USD pair, there appears to be a double-bottom adam and eve pattern playing out.


On the LTCBTC chart, the parabolic downward capitulation move looks akin to the March 2017 bottom before a large reversal which is what Litecoin is experiencing against Bitcoin in the past couple of weeks.



Litecoin is also now trading above the 100-day and is at the 200-day moving average. This is a bullish indicator and shows a clear trend change. This is a sign for most trend-following traders to start watching assets that are trading above these averages. All signs look like a bull market could be in the future for Litecoin especially leading up to it's third halving next year in August 2023.




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