Closely followed trader and analyst Michaël van de Poppe is unveiling his bull market target for Litecoin (LTC) while mapping out potential plays for two low-cap altcoins.
In a new strategy session, Van de Poppe tells his 142,000 YouTube subscribers that peer-to-peer payments network Litecoin can potentially ignite a 286% rally before the current market cycle comes to a close.
“When we’re getting expansion happening in the next bull cycle of Litecoin, we could be seeing the Fibonacci extension taking place here once again.
And then the 1.618 [level] is $600, and the second one will probably chase toward $1,000. So yes, I’m very bullish on those older altcoins, especially given the structure that they are giving us.”
At time of writing, Litecoin is trading at $260.
Van de Poppe is also looking at OMG Network (OMG), an enterprise solution for secure and fast transfers on Ethereum. According to the crypto strategist, OMG Network can launch a 108% rally against Bitcoin (OMG/BTC) as long as it holds support at 0.00024 BTC ($16.10).
He tells his 477,900 Twitter followers,
“Crucial support is the green zone, that should hold. If that holds, we might see continuation towards the upper level in the red zone (1.618 Fibonacci extension).”
Another coin on the trader’s radar is hybrid blockchain platform ICON (ICX).
Van de Poppe says ICON is gearing up for a 65% rally against Bitcoin (ICX/BTC) as the pair looks ready to surge to its immediate resistance at 0.000053 BTC ($3.55).
“Well, I mean, interesting for ICX.”
At time of writing, OMG is priced at $16.14, and ICON is trading for $2.13.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/solarseven/pikepicture/Vladimir Sazonov
Credit: Source link
