A widely followed crypto analyst thinks XRP and Litecoin (LTC) could rise if Bitcoin (BTC) can overcome a major price level.
Crypto trader Michael van de Poppe tells are 657,400 Twitter followers that BTC must rise above $26,800 for any chance of a rally.
“The lower time frame for BTC is pretty straightforward.
We need to break through $26,800 to get a follow up here.
That means if we break that level and flip it, $27,500 is on the line, but most likely $28,000 & breakouts on XRP and LTC.
Bitcoin is worth $26,551 at the time of writing. According to Van de Poppe, if BTC can rise to $28,000, XRP and LTC are likely to experience breakouts.
XRP is worth $0.53 at the time of writing. LTC is trading at $89.32.
Delving deeper into the price movement of BTC, the analyst predicts that if BTC can hold its current levels, it will have a green summer.
“Great retest for Bitcoin, and if the weekly closes like this, we will have a close above the 200-Week MA (Moving Average) and EMA (Exponential Moving Average).
That would mean we go up next week and green numbers come in the summer.”
Looking at altcoins as a whole, Van de Poppe believes the altcoin markets are at a critical time.
“The total altcoin market cap of crypto is also on the verge of an important point here.
Close above 200 week MA and EMA -> good sign.
Close below -> more pain is coming.
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