A widely followed crypto strategist believes that Litecoin (LTC) could be close to igniting a strong uptrend leading up to its third halving.
Analyst Michaël van de Poppe tells his 657,300 Twitter followers that the next few days could be crucial for the price action of Litecoin.
According to the crypto trader, Litecoin must take out its immediate resistance at $93 to start its halving rally.
“Many squigglies on this chart, but higher timeframe resistance is at $93.
Currently, support found at $82 and a strong bounce -> weekly candle looks good.
Next week breaking through $93 and the halving rally might start.”
Litecoin’s halving is expected to take place on August 2nd, 2023. At time of writing, LTC is trading for $91.32.
Van de Poppe is also keeping a close watch on the layer-2 scaling solution Polygon (MATIC). According to the crypto analyst, MATIC could rally by as much as 61% if it manages to take out a key resistance level.
“I really want to see it flip $0.95, then we can accelerate towards $1.30-1.50.
If that’s not the case, then short is activated and longs can be taken at $0.75.”
At time of writing, MATIC is worth $0.94.
As for Bitcoin (BTC), Van de Poppe believes that the “sky is the limit” for the crypto king now that it is trading above $27,400.
“Good retest of Bitcoin here at $26,600. Looks like we’ll have some continuation here.”
At time of writing, Bitcoin is trading for $28,133.
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.
Generated Image: Midjourney/ Shutterstock