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- Litecoin (LTC) potentially on the verge of a pre-halving rally, says prominent crypto analyst Michaël van de Poppe.
- Analyst also shares insights on the possible movements of Polygon (MATIC) and Bitcoin (BTC).
Renowned crypto analyst Michaël van de Poppe has shared his outlook on a trio of cryptocurrencies: Litecoin (LTC), Polygon (MATIC), and Bitcoin (BTC). In his latest predictions, he suggests that Litecoin might be nearing a significant upward trend as it approaches its third halving.
Litecoin’s Pivotal Moment
Van de Poppe, followed by over 657,000 people on Twitter, has stated that the coming days could be decisive for Litecoin’s price action. In his analysis, he points out that LTC needs to break the immediate resistance level of $93 to kickstart a rally leading up to its halving event. As of his statement, LTC is trading at $91.32.
“Considerable fluctuations are evident on Litecoin’s chart, but the pivotal resistance at a higher timeframe stands at $93. We’ve found support at $82, and with a strong bounce, the weekly candle appears promising. If we manage to breach the $93 resistance in the next week, we may witness the beginning of the halving rally,”
says the analyst. Litecoin’s halving is slated for August 2nd, 2023.
Prospects for Polygon and Bitcoin
Apart from Litecoin, Van de Poppe also offers his insights on Polygon (MATIC), a layer-2 scaling solution. He predicts a possible surge of up to 61% for MATIC, given it overcomes a crucial resistance level.
“It would be interesting to see if it can flip $0.95, as that could potentially lead to an acceleration towards $1.30-1.50. However, if it fails to do so, a short position might be activated, and longs can be considered at $0.75,”
he says. At the time of his statement, MATIC is priced at $0.94.
Sky’s the Limit for Bitcoin
The widely-followed analyst also comments on Bitcoin’s prospects, stating that its potential is virtually limitless, especially now that it has surpassed the $27,400 mark.
“We’ve seen a good retest of Bitcoin here at $26,600. It seems we’re on track for some continuation.”
Bitcoin is trading at $28,133 as per his latest observation.
Michaël van de Poppe’s assessments often prove instrumental for traders. His current predictions certainly give investors much to contemplate as they watch these three key digital assets in the near future.
