A crypto analyst who bought Bitcoin (BTC) around its lowest point last year is expressing bullish sentiment on a top-20 altcoin by market cap.
Pseudonymous crypto trader DonAlt tells his 47,500 YouTube subscribers in a new video that he “very much be happy” with Litecoin (LTC) hitting $200.
According to DonAlt, Litecoin is rising linearly on the “magnificent” weekly chart.
“[Litecoin/US dollar on the weekly timeframe] just looks good now. I don’t really care if it underperforms or outperforms Bitcoin whatever. This is just a magnificent chart…
But basically, this is going up linearly and I don’t really see a problem with this so far.”
For the Litecoin/Ethereum (LTC/ETH) pair, the pseudonymous crypto trader says that he expects Litecoin to outperform Ethereum over the short term.
According to DonAlt, Litecoin could experience a massive rally against Ethereum and after the rally stalls, he will convert his LTC into ETH.
“I’m not really willing to rotate my Litecoin into ETH…
This is like going against ETH and I think I can get more [Litecoin]. So basically this is I want to see one more [parabolic] move from Litecoin against ETH and then I will rotate my Litecoin into ETH.”
Earlier this week, DonAlt told his 461,200 Twitter followers that if Litecoin closes above $100, it could rally up to $220.
“LTC
At resistance, but given how important this one is I’m honestly shocked at how weak this pullback has been.
Above $76 this looks excellent.
Below it starts looking dicey.
A close above $100 would open the door to $130/$220.”
Turning to Bitcoin, DonAlt says that he is targeting the flagship crypto asset to hit $32,000 to take profits.
“For me, $32,000 is what I’m targeting. I’m not going to take any profit before $32,000 or before we start invalidating my thesis. And my thesis has just been spot on right ever since the bottom. It’s been right, I’m not going to like take profits early I’m just going to hang on.”
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The post Analyst Who Called 2023 Crypto Breakout Says One Altcoin Ready for Massive Rally, Updates Outlook on Bitcoin and Ethereum appeared first on The Daily Hodl.