Famous trader John Bollinger states that he sees signs that Litecoin is preparing for a big move. In his Bollinger Bands analysis on LTC's monthly chart, Bollinger stated that it is "time for LTC to wake up." This comment was made after a follower asked for his opinion on LTC.

The follower examined Litecoin charts to benefit from Bollinger's expertise. Bollinger noted the difficulties in analyzing a logarithmic scale chart and suggested moving the Y-axis slightly lower than the price's bottom if the lower Bollinger Band crossed zero. After these adjustments were made, the Bollinger Bands on the Litecoin price chart were observed to narrow.

Bollinger Bands are a widely used technical analysis tool among traders. Bands consist of a middle band (usually a simple moving average) and upper and lower bands (standard deviations of the mean). A narrowing of the bands usually indicates that the market is experiencing low volatility, which can often lead to a significant price movement.

Litecoin is a cryptocurrency called the silver of Bitcoin and was launched in 2011 by Charlie Lee. It differs from Bitcoin by faster transaction times and a different hashing algorithm.

Currently, the price of LTC stands at $71.20 and its market cap is among the top 20 cryptocurrencies with a market cap of $5.35 billion. Litecoin's all-time high was recorded at $413.49 on May 10, 2021.

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So who will benefit?

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I EXPLAIN IN DETAIL.

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