With SEC decision day for the Litecoin ETF delayed until May 5, 2025, seems those idle hands are idle no more with Litecoin.
From a fundamentals perspective, the hash rate for Litecoin is in overdrive since November, racing to the 2.37 PH/s handle, and continues to dominate as the most used cryptocurrency for transactions on Bitpay (34.7%), surpassing Bitcoin, Ethereum, and USD stables.
From a very basic fundamentals perspective, it seems Litecoin should be primed for a move higher in the near term.
Potential Bullish Catapult & Target Price
In Point & Figure Charting “a typical Bullish Catapult forms with a Triple Top Breakout, a pullback, and then a Double Top Breakout.”
The formation is showing a clear triple top [Secondary Test (ST), Upward Thrust (UT, and Upward Thrust After Distribution (UTAD)] followed by a Sign of Strength (SOS) on the breakout to the $97 handle. It appears to be a textbook Bullish Catapult formation. The Horizontal Price Count suggests that if this formation plays out, the target price for this move would be the $120 handle.
Always remember this is not trading advice.
Outside of that, Happy Trading.
From a fundamentals perspective, the hash rate for Litecoin is in overdrive since November, racing to the 2.37 PH/s handle, and continues to dominate as the most used cryptocurrency for transactions on Bitpay (34.7%), surpassing Bitcoin, Ethereum, and USD stables.
From a very basic fundamentals perspective, it seems Litecoin should be primed for a move higher in the near term.
Potential Bullish Catapult & Target Price
In Point & Figure Charting “a typical Bullish Catapult forms with a Triple Top Breakout, a pullback, and then a Double Top Breakout.”
The formation is showing a clear triple top [Secondary Test (ST), Upward Thrust (UT, and Upward Thrust After Distribution (UTAD)] followed by a Sign of Strength (SOS) on the breakout to the $97 handle. It appears to be a textbook Bullish Catapult formation. The Horizontal Price Count suggests that if this formation plays out, the target price for this move would be the $120 handle.
Always remember this is not trading advice.
Outside of that, Happy Trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.