- Well-regarded crypto analyst Michaël van de Poppe forecasts potential breakout rallies for Litecoin and Ethereum.
- According to Van de Poppe, Litecoin could peak around $160 to $180 if it crosses the $100 mark, and Ethereum could quickly escalate towards $2,800 as long as it remains above $1,800.
Renowned crypto analyst, Michaël van de Poppe, anticipates that two significant cryptocurrencies, Litecoin (LTC) and Ethereum (ETH), stand on the brink of launching breakout rallies.
During a recent strategy session, Van de Poppe delved into the potential for Litecoin, suggesting that the forthcoming halving event could be the catalyst for the peer-to-peer payments network to regain its December 2021 levels. In the world of cryptocurrency, a “halving” refers to the reduction by 50% of the reward given to miners for validating transactions, an event that typically happens every four years for Litecoin.
Van de Poppe believes that Litecoin is approaching a crucial resistance area, the crossing of which could lead to a swift expansion in its value.
“Litecoin is performing remarkably,”
“It’s teetering on the brink of a breakout… Given that the halving is expected to occur in August, we still have a window of six to eight weeks. If it surpasses the $100 mark, a robust rally is certainly plausible, potentially peaking around $160 to $180.”
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As of the time of writing, Litecoin trades at $93.39, indicating a minor dip over the past 24 hours.
In addition to his predictions for Litecoin, Van de Poppe also casts an optimistic eye towards Ethereum, the leading smart contract platform. Like Litecoin, he contends that Ethereum also has the potential to overcome its immediate resistance, provided it maintains a trading value above $1,800.
“If we manage to breach these levels ($1,903), I envision a swift acceleration towards $2,800. Thus, as long as Ether remains above $1,800, it could move upwards rapidly,”
Van de Poppe elaborates. At the time of writing, Ethereum’s worth stands at $1,881, experiencing a fractional decrease on the day.
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