A widely followed crypto analyst thinks XRP and Litecoin (LTC) can rally if Bitcoin (BTC) can overcome a key price level.
Crypto trader Michaël van de Poppe tells his 657,400 Twitter followers that BTC must rise above $26,800 to have a chance of rallying.
“The lower timeframe picture for BTC is quite simple.
We need to break through $26,800 in order to have a continuation going here.
That means, if we break and flip that level, $27,500 is on the cards, but most likely $28,000 & breakouts on XRP and LTC.”
Bitcoin is worth $26,551 at time of writing. According to Van de Poppe, if BTC can rally to $28,000, XRP and LTC are likely to experience breakouts.
XRP is worth $0.53 at time of writing. LTC is trading for $89.32.
Diving deeper into BTC’s price movement, the analyst predicts that if BTC can hold its current levels, it will be looking at a green summer ahead.
“Great retest for Bitcoin, and if the weekly closes like this, we’ll be having a close above the 200-Week MA (moving average) and EMA (exponential moving average).
That would mean that we’ll be going up next week and have green numbers coming during Summer.”
Looking at altcoins as a whole, Van de Poppe believes the altcoin markets are at a pivotal juncture.
“Total altcoin market capitalization of crypto is also on the edge of an important point here.
Closing above 200-Week MA and EMA -> good sign.
Closing beneath -> more pain to come.”
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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 losses 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.
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