A popular crypto strategist names two large-cap altcoins that he believes can influence the price action of the broader digital asset markets.
Analyst Michaël van de Poppe tells his 657,600 Twitter followers that he has locked his radar on the peer-to-peer payment network Litecoin (LTC) and cross-border payment solution XRP amid the current crypto correction.
From Poppe believes that the two altcoins could give the crypto markets a bull’s-eye.
“Stay sharp, stay focused.
Keep an eye on XRP and LTC.
They will move markets.
And check if we can move above the 200-week moving average for total market cap in the coming week.”
Pseudonymous trader DonAlt is also keeping a close eye on XRP and LTC, as he believes the two altcoins have underlying stories that could catalyze bullish price action.
“If you want to buy something, buy something with a story. That’s why I trade Litecoin; that’s why I traded XRP because I knew Litecoin – the halving story – you can leverage that.
XRP – the SEC case, you can trade that way. But those are the only ones you can touch.”
At the time of writing, XRP is trading at $0.52 and LTC is worth $77.58.
Meanwhile, Van de Poppe is also long-term bullish on decentralized oracle network Chainlink (LINK). According to Van de Poppe, yes accumulate LINK for $5 and Litecoin for $77.
“Chainlink hits a new low. What does that mean?
It means it’s still a great opportunity.
Investments take time and buying for $6 is still a good choice. Buying for $5 is even better.
Survive the cascade and you’ll be fine.”
At the time of writing, LINK is trading at $5.15.
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Featured image: Shutterstock/Salamahin/Viktoriia Bondarenko