Analyst Who Called 2023 Crypto Breakout Says One Altcoin Ready for Massive Rally, Updates Outlook on Bitcoin and Ethereum
A crypto analyst who purchased Bitcoin (BTC) round its lowest level final 12 months is expressing bullish sentiment on a top-20 altcoin by market cap.
Pseudonymous crypto dealer DonAlt tells his 47,500 YouTube subscribers in a brand new video that he “very a lot be blissful” with Litecoin (LTC) hitting $200.
Based on DonAlt, Litecoin is rising linearly on the “magnificent” weekly chart.
“[Litecoin/US dollar on the weekly timeframe] simply appears good now. I don’t actually care if it underperforms or outperforms Bitcoin no matter. That is only a magnificent chart…
However mainly, that is going up linearly and I don’t actually see an issue with this thus far.”
For the Litecoin/Ethereum (LTC/ETH) pair, the pseudonymous crypto dealer says that he expects Litecoin to outperform Ethereum over the quick time period.
Based on DonAlt, Litecoin may expertise a large rally in opposition to Ethereum and after the rally stalls, he’ll convert his LTC into ETH.
“I’m not likely keen to rotate my Litecoin into ETH…
That is like going in opposition to ETH and I believe I can get extra [Litecoin]. So mainly that is I need to see yet one more [parabolic] transfer from Litecoin in opposition to ETH after which I’ll rotate my Litecoin into ETH.”
Earlier this week, DonAlt told his 461,200 Twitter followers that if Litecoin closes above $100, it may rally as much as $220.
“LTC
At resistance, however given how necessary this one is I’m actually shocked at how weak this pullback has been.
Above $76 this appears wonderful.
Under it begins wanting dicey.
A detailed above $100 would open the door to $130/$220.”
Turning to Bitcoin, DonAlt says that he’s concentrating on the flagship crypto asset to hit $32,000 to take earnings.
“For me, $32,000 is what I’m concentrating on. I’m not going to take any revenue earlier than $32,000 or earlier than we begin invalidating my thesis. And my thesis has simply been spot on proper ever for the reason that backside. It’s been proper, I’m not going to love take earnings early I’m simply going to hold on.”
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