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<\/p>\nLitecoin has had a brutal “bull market” if you can even call it that for the once popular cryptocurrency built on Bitcoin’s code. However, that all might soon turn around, as a massive bounce is brewing on the LTCBTC trading pair.<\/p>\n
A reversal on the trading pair could help Litecoin catch up to the rest of the market, which has already set new all-time highs and then some. If and when LTC recovers against BTC, the upside could be swift and violent. Here’s why.<\/p>\n
Comparing Litecoin’s chart next to the likes of Dogecoin, Ethereum, Bitcoin, Binance Coin, and several others, shows just how dark the depths of the crypto winter got for the altcoin.<\/p>\n
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Litecoin was an incredible performer at the height of the last bull market, rising to beyond $360 per LTC in a flash.<\/p>\n
The altcoin also led the charge in the 2019 crypto market recovery, fueled by buzz surrounding the protocol’s block reward halving.<\/p>\n
Related Reading | Why Litecoin Is The Next Crypto To “Teleport” Like Dogecoin<\/strong><\/em><\/p>\n Litecoin’s code is very similar to Bitcoin’s, giving it several key similarities that should be benefiting the “digital silver” counterpart currently, such as hard-coded scarcity.<\/p>\n Only 84 million LTC exist, a mere four times the amount of the BTC supply. And if scarcity is driving the demand behind Bitcoin, the fact that Litecoin isn’t at all following is confusing.<\/p>\n But a bounce is due, according to one crypto analyst‘s interpretation of the LTCBTC price chart.<\/p>\n A hidden dull div on the OBV could trigger a breakout of the falling wedge | Source: LTCBTC on TradingView.com<\/p>\n The trader who shared the above chart says that LTCBTC is currently at long-term support of a falling wedge, coinciding with a bullish divergence on the on-balance volume indicator (OBV).<\/p>\n The OBV is often regarded as the “smart money indicator” – named as such for its ability to pick up signals of movements before they begin to take effect in price action.<\/p>\n These signals represent “smart money” taking positions early before markup. Fractals from the last bull market suggest that a breakout is near, but holders of the coin are taking their time.<\/p>\n![](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/EwQWOolXMAEtH6M-860x407.jpg\")
<\/p>\nSmart Money Signals That Litecoin Is Ready To Bounce Against Bitcoin<\/h2>\n