Closely followed trader and analyst Michaël van de Poppe is unveiling his bull market target for Litecoin (LTC) while mapping out potential plays for two low-cap altcoins.
In a new strategy session, Van de Poppe tells his 142,000 YouTube subscribers that peer-to-peer payments network Litecoin can potentially ignite a 286% rally before the current market cycle comes to a close.
“When we’re getting expansion happening in the next bull cycle of Litecoin, we could be seeing the Fibonacci extension taking place here once again.
And then the 1.618 [level] is $600, and the second one will probably chase toward $1,000. So yes, I’m very bullish on those older altcoins, especially given the structure that they are giving us.”
At time of writing, Litecoin is trading at $260.
Van de Poppe is also looking at OMG Network (OMG), an enterprise solution for secure and fast transfers on Ethereum. According to the crypto strategist, OMG Network can launch a 108% rally against Bitcoin (OMG/BTC) as long as it holds support at 0.00024 BTC ($16.10).
He tells his 477,900 Twitter followers,
“Crucial support is the green zone, that should hold. If that holds, we might see continuation towards the upper level in the red zone (1.618 Fibonacci extension).”
Another coin on the trader’s radar is hybrid blockchain platform ICON (ICX).
Van de Poppe says ICON is gearing up for a 65% rally against Bitcoin (ICX/BTC) as the pair looks ready to surge to its immediate resistance at 0.000053 BTC ($3.55).
“Well, I mean, interesting for ICX.”
At time of writing, OMG is priced at $16.14, and ICON is trading for $2.13.
Litecoin price analysis: Bulls rescue price above $212 after a swift upturn
- Price has improved up to $212 mark.
- Litecoin price analysis shows uptrend.
- Support is quite stable at $177.72.
The latest Litecoin price analysis predicts an upward trend for the day as a significant amount of recovery in LTC/USD value was detected. The bullish momentum is on the rise again as the buying pressure is increasing. Today, a successful climb to $212.11 was achieved because of consecutive bullish wins in the past week. Although the market was being led by the bears earlier, today’s trend has been relatively encouraging.
LTC/USD 1-day price chart: Price towers above $212.11 after upward strike
The one-day Litecoin price analysis shows a bullish trend as the market is going in support of the buyers today. The short-term trending line is also moving ascendingly now as the past week has been highly favorable for the bulls. Today, a significant rise in coin value was detected once again as the price reached $212 height. The moving average (MA) value, on the other side, is still at a relatively lower position, i.e., $207.70.
The Bollinger band average has declined up to $225.68 because of the previous downtrend. At the same time, the upper Bollinger band value has shifted to $273.64, while the lower Bollinger band has changed to $177.72. The Relative Strength Index (RSI) graph shows an upward curve with an average score of 48.74.
Litecoin price analysis: LTC value successfully tops $211 resistance after uplift
The bulls have been reigning the market for the past few hours as a consistent uptrend has been observed. The bullish curve marks a definite increasing trend as the price has been uplifted above the $211.25 resistance point. The LTC/USD value is now standing at $212.03 high after a remarkable recovery. If we talk about the moving average value in the one-day price chart, it is settled at the $203.79 position.
The volatility is tremendously rising, which on the opposite, is a negative indication regarding the future trends. The upper Bollinger band is now at $211.25 end, and the lower Bollinger band is present at $185.60 end present. The RSI curve is showing an upgrade in LTC value as well as the score has reached 61.48.
The technical indicators chart for LTC/USD gives a neutral hint regarding the market trends, as a constant variation in price movements has been observed. A total of 10 indicators are on the buying side; nine hands are on the neutral side, while seven are on the selling side.
The Moving Averages Indicator supports the bulls by giving out a buying signal. We can see that five indicators are standing on the selling mark, nine hands are on the buying, and only one indicator is on the neutral mark. The oscillators show a neutral trend once again as eight oscillators are on a neutral position, two oscillators are selling, and one oscillator is on the buying position.
Litecoin price analysis conclusion
The daily and hourly price charts display green candlesticks today as a considerable improvement in LTC/USD value has been detected. The price is now at $212.11, and further recovery can be expected if the buying rate increases. The hourly price prediction is also giving the lead to bulls because of the rapid rise in coin value in the last few hours.
Litecoin And Solana Outperform Bitcoin-Based Investment Products in November
It’s been just revealed that Bitcoin-based investment products are seeing some pretty strong competition these days for altcoin-based products.
This is what crypto data company CryptoCompare revealed recently.
The latest reports from CryptoCompare are out
The crypto data firm explained that the investment products based on Litecoin (LTC) and smart contract blockchain Solana (SOL) had better returns than those based on BTC over the 30-day period leading to November 19th.
“BTC-based investment products were outperformed by Solana & Litecoin-based products, led by 21Shares’ ASOL (Solana-based product) and Grayscale’s LTCN (Litecoin-based product), which returned 22.0% and 14.9% respectively.”
The online publication the Daily Hodl notes that CryptoCompare says Bitcoin-based investment products recorded losses over the same period while products based on Ethereum and Solana registered profits.
“BTC-based products experienced losses over the last 30 days, ranging from -6% to -13% while ETH products saw gains ranging from 0.5% to 7% for ETH products. 21Shares’ ASOL ETN [Exchange-Traded Notes] experienced the largest gain at 22%…”
The very same notes also revealed that the level of assets under management (AUM) for Bitcoin saw a significant drop on a month-on-month basis while the AUM for other crypto assets surged.
“Bitcoin AUM fell 9.5% to $48.7 billion in November, its largest month-on-month pullback since July. Meanwhile, Ethereum and other cryptocurrency products saw their AUM rise 5.4% to $16.6 billion and 10.4% to $2.6 billion, respectively.”
Bitcoin adoption intensifies
The mass adoption of Bitcoin continues despite the multiple corrections that the digital asset has been seeing lately.
Check out the latest report coming from Cointelegraph about this exciting move that has been made.
It’s been reported that Fintonia Group, a Singapore-based fund manager regulated by the Monetary Authority of Singapore (MAS), has launched two institutional-grade Bitcoin (BTC) funds.
The new funds are the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund.
This is what Fintonia announced on Thursday.
“The funds are live and investors can subscribe and redeem regularly as they are open-ended funds, similar to a mutual fund. The funds are only available for accredited Investors.”
Keep your eyes on the market to see where the prices of the digital assets are going.
Litecoin Forecast November 29 — December 3, 2021
Litecoin LTC/USD ends the trading week at 194.81 and continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines again. This indicates pressure from buyers of the digital asset and a potential continuation of the decline in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 185.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 335.05.
Litecoin Forecast November 29 — December 3, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week November 29 — December 3, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the area of 145.05. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 95.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 245.05.
Litecoin Forecast November 29 — December 3, 2021 implies an attempt to test the support area near the level of 185.05. Then, continued growth to the area above the level of 335.05. An additional signal in favor of an increase in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 145.05. This will indicate a continued decline in cryptocurrency with a target below 95.05.