A popular crypto analyst is making bullish predictions for Litecoin (LTC), Polygon (MATIC), and an Ethereum competitor. Another well-known 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 prominent analyst notes that Litecoin will likely continue to move upwards after a possible drop. The analyst claims that Litecoin will increase 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 a set of cleaning tardes. Also, I am primarily looking for an option around $66.75 for long-term processes. 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’m assuming that after a nice bounce, we’ll go straight to $0.84.
The analyst says that Phantom is holding critical reinforcement at the $0.19 price level. Subsequently, it records a real move to the critical resistance level of around $0.20. He says that if FTM regains the $0.2075 – $0.210 price range, it is possible to reach a price of up to $0.235. He explains his views on this matter in the following form:
This shows a horizontal range for the last 12 days. Always 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 top BTC will go down
An analyst by the pseudonym Rekt Capital says Litecoin (LTC) is likely seeing a bear market bottom. In this context, the analyst makes the following assessment:
LTC floors precede BTC floors. In 2015, LTC bottomed out in April and BTC hit bottom in August. In 2018, both Litecoin and Bitcoin made bases at the same time. Now in 2022, LTC may have made a base in June 2022. But it is possible for BTC to see new bottoms again. The situation is similar to the 2015 correlation.
According to Rekt, the historical price action shows that Litecoin had a strong bullish trend ahead of the halving event. According to the forecasts, LTC’s next halving event will take place in the third quarter of 2023. The analyst makes the following statement:
LTC tends to recover before halving. However, the rallies reached the top before the halving. LTC peaked a month before one halving and two months before 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. He also mentions that he risks recording a new bear market bottom. He expresses his views on this issue as follows:
BTC breakout from $19,500 means a relief rally to convert $19,500 into new resistance. However, BTC failed to even break 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.