Litecoin has been widely looked down upon by investors as an inferior version of Bitcoin with few distinguishable differences, little utility, and waning development activities.
It is still one of the early cryptocurrencies that have ample liquidity and listings across all the major exchanges.
As such, when floods of new investors enter the ecosystem, they tend to throw money into these types of tokens, helping them to rocket higher.
One analyst is now noting that it could almost be time for Litecoin to see some immense upwards momentum.
He believes that it shows signs of strength from a technical perspective as bulls move to push it above a key level.
He also notes that it is not posting any potent reaction to any of Bitcoin’s recent selloffs. As such, it could be positioned to see some further momentum in the near-term.
That being said, betting on LTC is very much a bet on new investors entering the crypto markets