An analyst who is widely followed predicts rallies for a few altcoins, including Ethereum (ETH), the most popular smart contract platform and one of its primary rivals.
Crypto strategist Michaël van de Poppe tells His 643,000 Twitter followers said that he expected the second-largest cryptocurrency asset market cap to test $1,450 very soon.
“Good response on Ethereum. Have been waiting on this area to give some relief, we’ve got it and [are] Faced with resistance. If we sustain and keep on making higher lows, I think we’ll test areas around $1,450.”
Ethereum trades for $1,275 as of the writing date, a gain of 2%.
Van de Poppe said that he originally planned to invest in long positions on cryptocurrency at $13 per coin, but decided to go with another digital asset.
He is now says He expects AVAX will test the $16-17 range, if it can break through the $13.75-14.50 range.
“I was looking for a long around $13 on AVAX. I didn’t trigger it as I went for another crypto, but we’re eager for a test at $16-17 if $13.75-14.50 breaks.”
AVAX’s current value is $13.50 as of the time of writing.
Van de Poppe concludes his analysis with Bitcoin (BTC) alternative Litecoin (LTC), saying that the asset’s price will depend on several factors, including the upcoming Federal Reserve meeting and inflationary indicators such as the Consumer Price Index (CPI) and the Producer Price Index (PPI).
Analyst says LTC flipping the $76 might trigger a rally.
“Patiently waiting for an entry at $71 or $65, but doubt we’ll get it (probably depending on Federal Open Market Committee, CPI and PPI). Overall, I’m looking at these scenarios and expecting continuation to take place. Lower timeframes; flip of $76 is a potential trigger.”
LTC is currently moving for $75.56 as of the writing.
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