LTC Holds Support in its Ratio to BTC

Even after the Walmart debacle that pumped and dumped a massive portion of the market, Litecoin continues to hold support in its ratio to BTC.

LTC to BTC daily candle chart as of approximately 9pm ET, 9/16/21.

This trend was started back in early August and has continued riding a line of support since. This, coupled with longer term patterns on the weekly candle chart provide a fairly positive outlook for LTC.

LTC weekly candle chart approximately, 9:30pm ET, 9/16/21.

The weekly chart is holding a historical support in its ratio to BTC that has often made for a productive accumulation period.

While this may not necessarily be something for a shorter term trade, LTC can be used as something that indirectly provides more volatile movement than BTC since it’s largely influenced by BTC price action. In other words, when BTC moves, Litecoin often moves in the same direction with higher percentage changes due to its smaller market cap.

Historically, these lows in the ratio have been decent times to buy into LTC before it outpaced BTC. Let’s see if history repeats itself or shows us something new.