Analyst Michaël van de Poppe tells his 659,700 Twitter followers that the peer-to-peer payments network Litecoin looks bullish after taking out several technical resistances following its steep ascent last week.
According to the trader, Litecoin could surge to as high as $250, suggesting an upside potential of more than 135% from its current price of $106.
“Litecoin looks great.
– Breaking through 200-week moving average and (200-week) exponential moving average.
– Breaking $100 resistance.
– New yearly highs.
Targets are $180 and $250 on this run, most likely first will be the end.”
Looking at the decentralized oracle network Chainlink, Van de Poppe says that LINK has managed to reclaim its key support level at $6 after dropping to a 2023 low of around $5.
According to Van de Poppe, the bullish reclaim suggests that LINK is on the cusp of igniting an uptrend that could propel it to as high as $15, a more than 127% increase from its current value of $6.60.
“Chainlink is back in the range.
Flipped $6 for support, through which we’re on the edge of taking out many highs and expansion to the upside.”
Van de Poppe is also keeping a close watch on XRP. According to the trader, XRP could ascend to $0.53 as long as it stays above support at $0.48.
“Well, XRP did sweep higher, but doesn’t show a clear structure here.
Needs to have more confirmation, but likely we’ll start targeting $0.53.”
At time of writing, XRP is trading for $0.49.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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