Top Analyst Forecasts Big Bounce for One Red-Hot Altcoin, Updates Outlook on Bitcoin and Ethereum

Analyst Michaël van de Poppe is predicting a big rally for one altcoin that has surged over 66% in less than one month amid weakness in the broader crypto markets.

Van de Poppe tells his 642,800 Twitter followers that he’s looking for a solid bounce for peer-to-peer payments network Litecoin (LTC) after the altcoin recently posted its current monthly high of $84.73.

According to the analyst, Litecoin has decent support levels at $71 and $65 where LTC could rally en route to his target of $96, suggesting an upside potential of between 35% and 47% for the Bitcoin (BTC) hard fork.

“Patiently waiting for opportunities on Litecoin.”

Looking at Bitcoin itself, Van de Poppe says he’s looking at a couple of bullish scenarios for BTC.

“Preferably the bullish one, in which a reclaim of $17,200 is a trigger for longs towards $18,100. Otherwise $16,200-16,500 and reclaim of $16,900 after a sweep.”

At time of writing, Bitcoin is swapping hands for $17,072.

As for Ethereum (ETH), Van de Poppe predicts a correction toward the $1,200 level before the leading smart contract platform could ignite a rally toward his first target of $1,334.

“Would be great if we get this opportunity on ETH.” 

At time of writing, Ethereum is switching hands for $1,271, a fractional dip on the day.

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The post Top Analyst Forecasts Big Bounce for One Red-Hot Altcoin, Updates Outlook on Bitcoin and Ethereum appeared first on The Daily Hodl.