A popular analyst warns of this upcoming altcoin halving. Analyst David Stargate is bullish for Finance. Crypto analyst Arman Shirinyan assesses the technical outlook for XRP, SHIB and ADA. Mark Yusko, founder of crypto hedge fund Morgan Creek Digital, is quite optimistic about Bitcoin.
Analyst gives Litecoin warning!
The analyst, nicknamed DonAlt, says that based on past price movements, Litecoin tends to witness deep corrective moves after Blockchain miners halve their rewards. LTC’s third halving will take place on August 2nd. However, DonAlt says this event will not push Litecoin to 2023 highs. In this context, the analyst makes the following statement:
LTC halvings on a chart. That’s why I voiced this over half a year ago and quit weeks ago. Halving is no longer a bull catalyst. It’s a drag that a bunch of people buy just out of anticipation. But for some reason, people still keep selling this thing with two weeks left.
Source: DonAlt/TwitterThe crypto analyst says he plans to accumulate Litecoin again in 2026 in anticipation of the fourth halving. “Maybe in three years I will consider buying LTC again,” the analyst says. Looking at the Litecoin to Bitcoin (LTC/BTC) ratio, DonAlt states that the pair has a history of losing more than 80% of its value after the halving. “LTC and BTC after each new halving,” DonAlt says along with the chart.
Source: DonAlt/TwitterBitcoin’s outlook is weak!
As for Bitcoin, DonAlt says that the crypto king looks weak despite a lot of bullish news, such as the announcement of BlackRock’s bid for a spot-based BTC exchange-traded fund (ETF) and Ripple’s major victory in its legal battle with the US Securities and Exchange Commission (SEC). Based on this, the analyst makes the following comment:
It is very difficult to be in a downtrend at the daily support. However, it is impossible for me to be in an uptrend as we cling to the support while the positive news is endless and traditional markets are doing well. For shorter term games, over $30,600 or around $27,000 is interesting to me.
Source: DonAlt/TwitterWill STG rise strongly?
Stargate Finance (STG) price broke below an ascending support line that has been forming since January 2023. As this line provided support for the price multiple times, a break below it signaled a downward shift in the trend. However, instead of a sharp decline, STG’s price recovered from the $0.54 support level. After two rejections (red arrows), the price retraced this line on July 10. It also showed that the previous distortion was just a deviation. Such moves are usually followed by a strong uptrend.
On July 18, the price successfully converted this line to support (green arrow). The daily RSI indicator is above 50 and is trending upwards, supporting further upward movement. Therefore, there are chances that the price of STG price could rise to the $0.71 resistance level and $0.84.
STG daily chart. Source TradingViewTechnical indicators are showing that STG price is likely to rise to the next resistance level at $0.71. How the price reacts to this level will likely determine the long-term trend.
XRP rally potentially coming to an end
XRP is moving towards a conclusion as the token’s trading volume is showing signs of declining. The sustained decline in trading volume, which is currently trading near its local top, could potentially lead to a price reversal for XRP. XRP’s trading volume has been a critical element to watch amid the impressive price rally, following its historic court victory over the SEC. With the significant increase in trading volume contributing to the token’s price increase, the recent drop could signal a shift in market sentiment.
Source: TradingViewThe drop in volume indicates that the number of transactions containing XRP is decreasing. In the context of a price rally, this often indicates that traders are starting to take profits or reduce their buying activity, potentially expecting a market change. This, combined with the fact that XRP is trading close to its local top, suggests that we are approaching a tipping point in the token’s recent price journey. If this drop in volume continues, it will likely cause a price reversal.
Is the ADA taking a second breath?
Cardano (ADA) is showing signs of rebounding after a significant drop. After losing around 70% of its value during the last rally, ADA has come back with an 8% gain in the last two days. Thus, it signaled a potential trend reversal. ADA has had a crazy ride lately. It rose during the first rally. However, it faced a serious decline. He wiped out most of his earnings in the process. However, there has been a noticeable rebound in the price of ADA over the past 48 hours. This indicates that the token may catch its second wind.
This price increase is also supported by the increase in ADA’s trading volume. An increase in trading volume typically means increased interest and activity in the market. For ADA, this increase in trading volume means renewed trust among traders and investors. This will likely provide the momentum needed for ADA to move back to its local top. Investors and traders are watching these trends closely as ADA tries to rise again.
SHIB hit resistance again in recent trading sessions
The Shiba Inu (SHIB) tested its 50-day exponential moving average (EMA) at $0.00000785. Thus, it reached an important resistance level. This significant turning point in SHIB price action potentially marks an upcoming shift in the token’s market dynamics. The current trading volume of SHIB price is not particularly remarkable. It also remained relatively stable throughout the day. With these volume levels, SHIB is unlikely to make a significant breakthrough. However, the scenario is likely to change if the selling pressure eases.
If selling pressure remains low, SHIB may find strength to rise above its 50-day EMA. However, even if such a rise does occur, it is possible that the SHIB price will face a reversal later on.
Mark Yusko: Bitcoin will explode above 880%!
Mark Yusko, founder and CEO of crypto hedge fund Morgan Creek Digital, is optimistic that Bitcoin (BTC) will reach six digits. Yusko says in a new Wolf of All Streets interview that if Bitcoin is adopted as the digital equivalent of gold, it could potentially reach the same market value as the precious metal. He also notes that this would also be 887% from current levels at a price of $300,000. In this context, Yusko makes the following statement:
If you had the reasonable assumption that Bitcoin’s market value should roughly equal the market value of gold, we would say that Bitcoin is digital gold and plays the role of base money… Let’s round it up to $12 trillion, which it probably is. But the thing is, half of this gold is not money. Jewels, goblets, and things that aren’t really used as money. So that half is $6 trillion. From here it goes up 10 times. Its current price is $30,000, ten times $300,000. $300,000 is so easy for me that there is no need to argue…
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