A much-followed crypto strategist believes that both Litecoin (LTC) and Ethereum (ETH) are about to unleash breakout rallies.
In a new strategy session, Michaël van de Poppe says the Litecoin halving story could push the peer-to-peer payment network to a level last seen in December 2021.
According to the crypto strategist, LTC is one area of resistance away from a rapid price increase.
“Litecoin is also doing absolutely great. It’s about to break out…
I think the halving is going to happen in (August), which means we have another six to eight weeks before it happens. I think having a very strong rally is certainly likely if it breaks through $100.
If it breaks through $100… so I’m assuming we’re going to peak around $160 to $180.”
At the time of writing, Litecoin is trading at $93.39, down slightly in the past 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 clear its immediate resistance as long as it trades above USD 1,800.
“Once we start removing this one ($1,903), I think we can start accelerating to $2,800. So as long as Ether stays above $1,800, I think this could go pretty fast.”
At the time of writing, Ethereum is worth $1,881, a fractional drop on the day.
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