A popular crypto analyst is making bullish predictions for Litecoin (LTC), Polygon (MATIC), and an Ethereum rival. Another popular analyst says that a major altcoin project is preparing to survive the bear market.
“Altcoin projects to rally: LTC, MATIC and FTM”
Closely followed crypto analyst Michaël van de Poppe says Litecoin (LTC), Polygon (MATIC) and Phantom (FTM) are positioned for the rally. The popular analyst notes that Litecoin will likely continue to move up after a possible drop. The analyst claims that Litecoin will rise more than 22% from its current value of $68.71. In this context, the analyst makes the following statement:
Litecoin is showing strength. It will likely continue to show strength. I’m interested in the $69 range for some cleaning tarde. Also, I’m primarily looking for an option around $66.75 for long-term trades. Then I aim for $78 and $84.
Next, he says, MATIC will likely regain the $0.84 price level after falling below $0.80. At press time, MATIC is trading at $0.806. The analyst says the following for the altcoin:
The level increased this time. I assume we will continue towards $0.84 after a nice bounce.
The analyst says that Phantom is holding critical support at the $0.19 price level. Next, it records a move towards the critical resistance level of around $0.20. He states that if FTM regains the $0.2075-$0.210 price range, it is likely to reach a price point of up to $0.235. He explains his views on this matter as follows:
This shows a horizontal range for the last 12 days. He constantly tested the highs. Entry gone, this is now the $0.20 return. However, breaking and retrieving $0.2075-0.21 will trigger $0.225 and $0.235.
According to the analyst, LTC will go up BTC will go down
An analyst alias Rekt Capital says Litecoin (LTC) is likely seeing a bear market bottom. In this context, the analyst makes the following assessment:
LTC bottoms precede BTC bottoms. In 2015, LTC bottomed out in April and BTC bottomed in August. In 2018, both Litecoin and Bitcoin bottomed out at the same time. Now in 2022, LTC may have bottomed in June 2022. However, it is possible for BTC to still see new lows. The situation is similar to the 2015 correlation.
According to Rekt, historical price action indicates that Litecoin had a strong bullish trend prior to the halving event. cryptocoin.com As you follow, according to the forecasts, LTC’s next halving will take place in the third quarter of 2023. The analyst makes the following statement:
LTC tends to recover before halving. However, the rallies peaked before the halving. LTC peaked a month before one halving and two months before the two halvings. Can LTC complete the three months before the three halvings? If so, that means the peak will be in May 2023.
The crypto analyst says that if history repeats itself, Litecoin will recover from the general bearish state of the crypto markets. Based on this, he comments:
It is possible that LTC will diverge from the general crypto market in the coming months due to the Litecoin halving that will take place in August 2023.
The crypto strategist is optimistic about Litecoin. However, he says that Bitcoin (BTC) is showing signs of weakness. It also states that it risks recording a new bear market bottom. He expresses his views on this matter as follows:
BTC breakout from $19,500 means a relief rally to turn $19,500 into new resistance. However, BTC failed to even break past the close resistance at around $17,150 (weakness). The monthly close remained below $17,150. So, it is possible that it will drop further in the blue range.