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Top Crypto Analyst Says One Catalyst Will Keep Litecoin ‘Propped Up’, Updates Outlook on Bitcoin and Ethereum

May 28, 2023
in Altcoin
Reading Time: 2 mins read
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A preferred crypto dealer is weighing in on the prospects of Litecoin (LTC), Bitcoin (BTC) and Ethereum (ETH) shifting ahead.

Beginning with Litecoin, the pseudonymous analyst Bluntz tells his 223,000 Twitter followers that the 14th-largest crypto asset by market cap is consolidating in readiness for what could possibly be a breakout.

In line with Bluntz, the upcoming halving of Litecoin is more likely to preserve the altcoin bullish. Litecoin’s third halving is predicted to happen in about two months.

“Stable excessive timeframe contraction taking place on LTC. I believe the halving narrative retains this one propped up.”

Supply: Bluntz/Twitter

Trying on the chart, it seems that the analyst is predicting a symmetrical triangle breakout for Litecoin en route towards his goal above $110.

Litecoin is buying and selling at $86.96 at time of writing.

Turning to Bitcoin and Ethereum, the pseudonymous analyst says that the 2 main crypto property may commerce in a spread for some time earlier than breaking down. Nevertheless, Bluntz says that the plunge may take a while.

“To date, lows holding on each BTC and ETH.

Wouldn’t be stunned to see a extra longer drawn-out channel/bear flag play out right here, doesn’t fairly seem like a breakdown is imminent simply but.”

Supply: Bluntz/Twitter

Bitcoin and Ethereum are buying and selling at $26,471 and $1,814, respectively, at time of writing.

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Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you might incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in internet affiliate marketing.

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Tags: analystBitcoinCatalystCryptoEthereumLitecoinOutlookProppedTopUpdates
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