Two widely followed cryptocurrency analysts made new comments on altcoin projects. Analysts have announced some projects that they can add to their portfolio in the current price situation. Here are the details…
Altcoin analyst expects rise for 2 cryptocurrencies
A widely followed crypto analyst, Michael van de Poppe, made some comments for Ethereum (ETH), Litecoin (LTC), and Avalanche (AVAX). This predicts a rally for altcoins. The strategist told his 643,000 followers on Twitter that he expects the second-largest cryptocurrency by market cap to soon test the $1,450 price level. He stated that Ethereum is a good response to the current situation. He said he expects ETH to move in this area to get some relief. He thinks that although we are facing resistance now, he will record higher lows if we continue. Therefore, it is leaning towards the $1,450 test area.
Switching to the layer-1 protocol Avalanche (AVAX) after ETH analysis, van de Poppe states that he plans to take long positions when the cryptocurrency is around $13. But he says he prefers another crypto asset. Now, he says he expects AVAX to test the $16-17 range if it crosses the $13.75-14.50 range.
US data important for LTC
Van de Poppe also talked about the analysis of Bitcoin (BTC) alternative Litecoin (LTC). He concludes by saying that the price of the asset will depend on several factors, including the upcoming FED meeting and inflationary indicators such as the Consumer Price Index (CPI) and PPI. The analyst says that LTC flips to $76 could trigger a rally. The analyst uses the following statements:
I’m patiently waiting for an entry at $71 or $65. But we doubt we’ll get that level. It will likely depend on the Federal Open Market Committee (FOMC), CPI and PPI. In general, I look at these scenarios and expect them to continue. In shorter time periods; A break of $76 is a potential trigger.
Altcoin Sherpa analyzed four cryptocurrencies
On the other hand, popular analyst Altcoin Sherpa came up with four crypto currency comments. Starting his analysis with Dogecoin (DOGE), the trader says that the eighth largest crypto asset by market cap currently has a significant level of support. According to altcoin Sherpa, Dogecoin’s current support level around $0.09 to $0.10 is a possible entry point for a long position. He also points out that these levels previously acted as resistance levels.
Turning to Binance Coin (BNB), the strategist states that the coin is trading between $260 and $330 by volume and says he expects the asset to drop to the lower end of this range. It indicates that the price action is volatile in short time frames. He states that $330 is high and $260 is low. It is stated that these levels are reached as support and resistance many times during the months of September-October. He states that it would not be surprising if the lows of $260 would come.
MATIC, what’s next for FTM?
Next up is Polygon (MATIC), a layer-2 Ethereum scaling solution, as we’ve also reported on Cryptokoin.com. The crypto trader says Polygon has positive potential based on how Bitcoin (BTC) is traded. He draws attention to the possibility of seeing a price of $1 as a result of such an increase as a result of BTC’s positive moves.
Altcoin Sherpa is wrapping up its analysis with Ethereum rival Phantom (FTM). According to the analyst, the smart contract-enabled blockchain offers a buying opportunity for investors at the $0.22 support level. He states that he will continue to control this level and has the potential to buy.
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