Analysts, who foreshadowed the 2018 Bitcoin bottom, are updating the technical outlook for two well-established altcoin projects. The predictions came at a time when Bitcoin was under $16,500.
Smart Contracter awaits these news on two altcoin projects
You can take a look at the analyst’s accurate predictions here. In their current analysis, Smart Contracter has covered the current outlook for Ethereum and Litecoin. He said that Litecoin has exited the accumulation phase and is waiting for the halving cycle that will take place in 2023. Litecoin will cut mining rewards in half on this date. The analyst predicts that this will help the price breakout.
Smart Contracter previously said that LTC price recorded price movements similar to Bitcoin before the halving. Statistically it highlighted the following similarities:
BTC tends to bottom around 500 days before halving, so this burst of accumulation in LTC starts to make sense considering that this accumulation is already three months old and only 227 days to LTC halving.
Smart Contracter expects $98 in LTC price
Litecoin is currently trading at $74.69 at 13th place by market cap. The analyst says that he will touch $98 in the coming days for the following technical reason:
LTC is showing a nice acceptance OVER the multi-month accumulation boom and I think the chances of it being fake are pretty low. We’re still like 25% ($98) far from any decent build/resistance.
DonAlt also has huge goals for Litecoin
Another well-known crypto analyst, DonAlt, says that Litecoin is bullish and could quickly break the ATH price of around $400, which it reached in May 2021. Litecoin’s initial high price target ranges from $160 to $200. This represents a potential rally of up to 156% relative to LTC’s current price. For higher levels, DonAlt says:
As a goal, I don’t intend to sell $100. I’m looking for a place… between $160 and $200. About $300, maybe $400 would be interesting to me. I could see that making it an all-time high. It didn’t really do much during the bull market. It currently has a schedule set up to accomplish this.
How about Ethereum (ETH)?
As for Ethereum, the analyst, who says he is optimistic about the leading altcoin, says that the route is most likely up. According to Smart Contracter, Ethereum managed to gain strength in the BTC pair. The analyst predicts Ethereum will likely rally from the uptrend resistance at $1,300. This level will be the next resistance zone for ETH.
cryptocoin.com As you follow, Litecoin is currently trading below $80. It gained momentum before the halving, which will probably take place in August 2023.
