Litecoin nears third golden cross

Litecoin, known as the ‘digital silver’ compared to Bitcoin, has been relatively quiet in the past few years

Its last notable moment was in 2023 when its halving event took place, since then the cryptocurrency has been trading below $100 as the overall crypto market has not stabilized

Now the currency is close to forming a rare technical signal, the golden cross, that is generating excitement among investors

A golden cross is formed when the 50-week and 200-week moving averages cross each other, signaling the start of a bull market

This has only happened twice in Litecoin’s history, once in 2017 and the second time in 2021

On both occasions its price surged, the first time by 700% and the second time by Up to 450%,

Reputed crypto analyst Tony “The Bull” Severino has emphasized the importance of this signal and described the current situation as similar to previous occasions,

The analysis also revealed that the price increase usually begins before the completion of the golden cross, so it is possible that Litecoin is close to another major price increase,

Although the intensity of the current relay may be less than the previous relay, an increase of more than 200% is still possible, which will take the price beyond $200,

If it increases in the manner of 2017 or 2021, the price could reach $300 or even $500,

The current price of Litecoin is around $87 and if this prediction proves correct, the cryptocurrency can see a significant improvement in the coming days,

This golden cross signal is a good sign for investors and those interested in the crypto market ....

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