Trader Believes BTC, LTC, & LINK Are Showing Promising Signs
- In a tweet, Michael van de Poppe revealed his bullish expectations for BTC, LTC, and LINK.
- All three of these cryptos saw their prices increase over the past 24 hours of trading.
- Technical indicators on all three cryptos’ charts suggest the possibility for further price increases.
The renowned crypto trader and analyst Michael van de Poppe predicted in a tweet yesterday that the crypto market may rally in the next few months. In his post, the trader stated that Bitcoin (BTC) closing this week’s weekly candle above $30K will be great for the market.
Meanwhile, van de Poppe also stated that Litecoin (LTC) is “making itself ready for some massive weeks.” Chainlink (LINK) was also included in the trader’s tweet, as it was able to claim a position back above $6.
Bitcoin (BTC)
CoinMarketCap indicated that most of the top 10 biggest cryptocurrencies were able to record price gains over the past 24 hours, and BTC was no exception. The market leader’s price rose by more than 2% throughout the past day. This left it trading at $30,672.59 at press time.
BTC’s price was attempting to break above the next major resistance level at $31,095 at press time. The 9-day and 20-day EMA lines on the market leader’s chart indicated that BTC was in a short-term bullish cycle, as the shorter EMA line was positioned above the longer 20-day EMA line.
Should the bullish momentum continue for BTC in the next 24 hours, it may flip the $31,095 resistance into support within the next 48 hours. On the other hand, if BTC’s price is rejected by the resistance level, it will be at risk of dropping to the minor support at $29,865 before potentially dropping to the next key support level at $28,815.
Litecoin (LTC)
Meanwhile, Litecoin (LTC) was the biggest gainer among the top 10 biggest cryptocurrencies by market cap after it saw a more than 6% price increase over the past day. LTC was thus trading hands at $91.64. This pushed LTC’s weekly performance even further into the green to +18.56%.
LTC has been in a positive trend over the past 2 weeks. This move saw the altcoin’s price rise from a low of $70.75 to its current level. During this time, the crypto’s price was also able to overcome 3 major resistance levels.
The first level that LTC rose above was the $77.53 mark, which the crypto’s price broke above the price point on Tuesday. Thereafter, it rose above the 9-day and 20-day EMA lines and overcame the next resistance barrier at $83.65. In the past 24 hours, LTC successfully challenged the 3rd resistance level at $91.
Technical indicators on LTC’s daily chart suggested that its price would continue to rise in the next few days, which could potentially see it break past the next major resistance level at $97.30. The 9-day EMA line was looking to cross bullishly above the 20-day EMA line. Should this cross happen, LTC’s bullish streak may continue in the next few days.
Chainlink (LINK)
With regards to LINK’s performance, the altcoin’s price was also able to make a move up over the past 24 hours of trading. LINK was trading hands at $6.06 as the result of a more than 5% price ascent.
LINK’s price was able to flip the resistance level at $5.931 into support over the past 24 hours, and continued to trade above the key mark at press time. Investors and traders will want to take note of the bullish technical flag that may be triggered on LINK’s daily chart in the next 24-48 hours.
The 9-day EMA line was looking to cross above the 20-day EMA line. Should these two technical indicators cross in the next 2 days, LINK’s price may have the bullish support it needs to flip the resistance level at $6.295 into support. Conversely, the two technical indicators failing to cross will put LINK’s price at risk of losing the support of $5.931.
Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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