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RE: LiteCoin Back Tests $34 Breakout Level
Agreed that it's undervalued relative to the current market caps of similarly notable #crypto's.
From a liquidity standpoint I think it definitely helped that coinbase now offers it via its platform.
Litecoin would have to quadruple from current levels to surpass a $10B market cap. It may achieve this organically over time or an extraneous catalyst may compel it higher in a more abrupt fashion. It's ultimately contingent on it being more broadly supported, similar to #bitcoin and #ethereum.
Definitely, as soon as more markets start supporting litecoin, its market cap and hence price will increase. This shouldn't be a problem with Charlie back at the helm, I remember he said:
"All I have to do is speak to 3 people and the major exchanges in china will be dealing in litecoin"
So its only a matter of time before the price of #litecoin skyrockets.
Considering #litecoin has now gained >20% since its second retrace and bounce off the $34 breakout level, it's safe to say that buying interest remains strong.
If Charlie Lee is able to further establish exchange liquidity through Asian market integration, then the $50 overhead resistance level should be easily breached.