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According to the popular trader and analyst Nicholas Merten Litecoin (LTC) is poised to relatively outperform Ethereum over the course of the next month.
Despite its long tenure in the top ten assets by market value, Litecoin has been one of the worst performers in the crypto market in 2020 and 2021 so far.
Thanks to what appears to be a monster-sized change brewing against Ethereum on the altcoin trading pair, the coin’s fortunes could soon switch fully around. Merten notes that LTC appears to be bottoming out against Ethereum.
Will Litecoin Surpass Ethereum in the Future?
Litecoin has done a 5x against Ethereum in this range. That’s supposed to be enormous. And these are the kinds of ratios to be aimed for since this is how we get multiples upon multiples of what the market is getting on a regular basis.
He explains that, if we want to put it that way, it is the absolute alpha. There aren’t many better opportunities than being able to find large-cap plays that are already well-established but still have the potential to outperform a player like Ethereum, which is already doing quite well and leading most cryptocurrencies.
Merten did not reveal Litecoins price predictions but one chart throws light on LTCs future prospects. The chart Merten shared shows Litecoin climbing towards the $2,000 range in the near future.
Furthermore, he suggests that the traders should look at the technical setups flashing on the LTC/ETH and LTC/BTC charts.
Merten doesn’t believe watching at the US dollar value table right now. According to him the ratios are the most important thing to keep an eye on here. The ratios are currently inexpensive. He is not indicating that they’ll go all the way to the top and do a 5x against Ethereum.
With decentralized finance (DeFi), he believes that Ethereum has gained a lot of traction… But, in general, I’ll say if… It’s a 100% return (2x), 200, 300, and 400% return, whatever it is, this is a favorable set up in his mind for the technicals presently.
He also mentions that it is not about the fundamentals anymore like it was 2 to 4 years back but It’s about technical price patterns and Super cycles. Patterns that take years to set up.
He concludes by,
“I would say… be a little less greedy than other participants. If you can lock in those profits and then find other opportunities in the market that will position you much better… That’s the mindset I’m thinking about.”