A crypto trader who managed to predict the bottom of the bear market for Bitcoin in 2018 is currently envisioning a positive path for Litecoin.
Pseudonymous trader Bluntz shares with his more than 220,000 followers that he is especially bullish on Litecoin due to the halving scheduled for August.
Increase of 30 percent
According to the popular analyst, Litecoin is currently looking bullish on both its dollar and bitcoin trading pairs. “I think Litecoin is finally getting ready for the halving price explosion,” said the analyst.
Currently, Bluntz sees Litecoin trying to break out of a range it has been in for 195 days against the US dollar. Furthermore, Litecoin is currently doing well against Bitcoin.
Looking at Bluntz’s chart, it looks like he expects a rally towards $140 for the digital coin. From the current price of $106.54, that would represent an increase of more than 30 percent for Litecoin.
Solana is also bullish
Litecoin is not the only altcoin Bluntz is bullish about right now. Solana, a smart contract platform that competes with Ethereum, is also doing well compared to Bitcoin.
Solana already managed to gain 10 percent on the US dollar and according to Bluntz, a positive pattern is also emerging for the altcoin compared to Bitcoin.
That positivity is more than welcome for Solana, as the coin has previously struggled with the US Securities and Exchange Commission’s lawsuits against Coinbase and Binance.
Among other things, Solana was mentioned as one effect for US law. Which means that the coin may disappear from a lot of major exchanges, which of course is not good for the price of the project.
Free 20 euros worth of Crypto
Do you want to enter the crypto world and perhaps buy Litecoin? Then we have great news for you! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers are getting an exclusive offer.
If you sign up to Bitvavo via the button below, you will not only receive 20 euros for free, but you will also not pay any trading fees on your first 10,000 euros in transactions.