Crypto analyst Nicholas Merten says two mid-cap crypto assets will soar along with Bitcoin, Ethereum, and XRP as a new bull market emerges.
On the latest episode of DataDash, Merten says a broad correction in the altcoin markets is offering investors a chance to hop in before the next big rally explodes. He says traders should keep an eye on the relative crypto newcomers Cardano (ADA) and Tezos (XTZ) in preparation for the next bullish breakout.
“Now that we have had this pullback here, [it] does provide an opportunity for some bulls who have missed out on a lot of this kind of exponential portion of the rally to get back in…
The major thing to focus on, as I think really a lot of the large caps and a lot of the established protocols, so some of the new emerging protocols, I know some of you are going to be excited for me to say this. Plays like Cardano, plays like Tezos, some of the other ones alongside some of the large caps like Ethereum, Litecoin, XRP, this is going to be our major focus here.”
As for Litecoin, Merten says bulls will spark a new rally if they can capture a key level.
“Just like Bitcoin, just like Ethereum, building up long-term technical formations, Litecoin has very clear points of resistance and support. It looks like here, if you really take a look at the log chart, we just need to basically get above $70, we could really start to see this take off.”
Meanwhile, the crypto analyst is also long-term bullish on Ethereum. He believes the second-largest cryptocurrency will continue its hot streak en route to a new all-time high as long as the coin properly scales.
“It’s already built up support on previous resistance and broken out here… I think it’s going to continue to go up, eventually to set all-time highs and accelerate towards even higher levels.”
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