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Popular Analyst Says Litecoin on the Edge of Breaking Out, Updates Outlook on Ethereum – Here Are His Targets

source-logo  dailyhodl.com 06 June 2023 01:01, UTC

A widely followed crypto strategist believes that both Litecoin (LTC) and Ethereum (ETH) are on the verge of igniting breakout rallies.

In a new strategy session, Michaël van de Poppe says that Litecoin’s halving narrative could push the peer-to-peer payments network to a level last seen in December 2021.

According to the crypto strategist, LTC is one resistance area away from a rapid price expansion.

“Litecoin is doing absolutely great, too. It is on the edge of having a breakout…

I think the halving is going to take place in (August), which means that we still have six to eight weeks before it takes place. I think having a very strong rally is definitely likely if it breaks through $100.

If it breaks through $100… so then I’m assuming we’re going to peak out around the area of $160 to $180.”

At time of writing, Litecoin is trading for $93.39, a slight decrease in the last 24 hours.

Van de Poppe also says that the leading smart contract platform Ethereum is also in the same boat. According to the crypto strategist, ETH has a chance to take out its immediate resistance as long as it is trading above $1,800.

“Once we start to take these out ($1,903), I think we can start accelerating towards $2,800. So as long as Ether stays above $1,800, I think this can actually go quite fast.”

At time of writing, Ethereum is worth $1,881, a fractional decrease on the day.