Prominent crypto trader and analyst Michaël Van de Poppe is looking at two large-cap altcoins that he believes have the potential to outperform Bitcoin in the next leg of the bull cycle.
“As long as Ethereum stays in this region between 0.028 and 0.03, everything is fine. Even if Ethereum drops towards 0.0265, everything is still fine. And from the entire group of all altcoins, this is one of the few that’s actually looking the best in this entire structure. As long as it stays here, it is looking bullish in itself.”
According to Van de Poppe, the prevailing fear, uncertainty, and doubt (FUD) surrounding Ethereum “should guarantee a massive breakout once ETH 2.0 starts to roll.”
In the mid-term, the trader expects ETH/BTC to skyrocket to 0.044, representing potential gains of over 40% from its current price 0.031.
“I’m getting interested when I see such a huge amount of Litecoins being traded, which means to me that there is higher accumulation going on… You want to see a bounce up, people become FOMOish, people see Litecoin going strong, etc. Makes a slight move of 20%. Then you generally don’t want to chase the trade but once it flips this region (0.003) we can start having a trend like this again (move from 0.007 to 0.016).”
If Litecoin follows the script, Van de Poppe thinks it can surge to 0.0058, which represents growth of over 93% from the trader’s suggested point of entry.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Tags: Litecoin price