A well-known analyst and trader expresses a bullish sentiment on a significant altcoin while revising his perspective on two other cryptocurrencies.
The analyst, who goes by the pseudonym DonAlt, informs his 649,700 followers on the social media platform X that Litecoin (LTC) currently exhibits “one of the best-looking crypto charts available.”
According to DonAlt’s analysis, it seems he anticipates that Litecoin might be constructing an ascending triangle on the weekly chart. In technical analysis, an ascending triangle is generally perceived as bullish as the asset continues to form higher lows.
Regarding the potential reasons for Litecoin’s positive movement, the analyst states,
“The primary reason is speculation surrounding an exchange-traded fund (ETF).
I believe it is among the most likely candidates for approval, so this line of thinking isn’t unfounded.
It might just take some time to come to fruition.”
Currently, Litecoin is valued at $129.
Next, let’s discuss Bitcoin (BTC). The unnamed analyst observes that Bitcoin is presently “struggling,” with the optimal entry point for a long position above $101,000. DonAlt notes that Bitcoin is currently fluctuating in a “simple range,” identifying key support at approximately $95,000 and key resistance around $101,000.
As of now, Bitcoin is trading at $96,836.
Shifting focus to BNB, DonAlt indicates that this sixth-largest cryptocurrency by market capitalization appears bullish on the monthly chart, having surged above a range that initiated in early 2021.
“It looks even better now.
No closes below $625 would solidify the bullish case [for BNB].”
Currently, BNB is priced at $667.
Don’t miss out – Subscribe to receive email notifications directly in your inbox.
Monitor Price Movements
Follow us on X, Facebook, and Telegram
Explore The Daily Hodl Mix
Disclaimer: The views expressed in The Daily Hodl are not financial advice. Investors should conduct thorough research before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please be aware that your transactions and trades are at your own risk, and any potential losses you incur are your responsibility. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets, nor does it act as an investment advisor. Note that The Daily Hodl participates in affiliate marketing.
Image Created: Midjourney
