dailyhodl.com
A popular crypto strategist says he’s keeping an eye on three altcoins that are flashing signs of strength to start the year.
Pseudonymous analyst DonAlt tells his 448,700 Twitter followers that his favorite altcoin at the moment is peer-to-peer payments network Litecoin (LTC).
According to the crypto strategist, Litecoin looks bullish against the US dollar and Bitcoin (LTC/BTC).
“The BTC pair broke down only to reclaim the range low with gusto. As long as 0.00319 BTC ($53.05) holds, I’ll have to assume we’ll 4x to range high The USD pair also broke out, just not as strong BUT it’s gonna close the year strong. LTC halving [this] year too. Good coin.”
At time of writing, LTC is changing hands for $74.59, up over 7% in the last 24 hours.
Another altcoin on the trader’s radar is privacy-focused protocol Monero (XMR). According to DonAlt, Monero is showing relative strength against Bitcoin (XMR/BTC).
“Looks very good against BTC as long as it holds the breakout level of 0.0073 BTC ($121.39).
The USD pair is less helpful. It’s in a huge range between ~$90 and ~$230.
Noteworthy strength, especially given the rest of the alt sector is basically down 90% against BTC.
I like for 2023.”
At time of writing, Monero is swapping hands for $148.87, a 1.35% increase on the day.
The last altcoin on DonAlt’s list is smart contract protocol Tron (TRX). According to the crypto analyst, TRX already looks “amazing” against Bitcoin (TRX/BTC).
“Rarely have I seen a better-looking high timeframe BTC chart coupled with such a meh-looking USD chart. I hate to say it but this is probably one of the coins to watch in 2023. Starts looking good against USD above $0.063.”
At time of writing, TRX is switching hands at $0.054, a fractional dip on the day.