A cryptocurrency trader who correctly predicted the bottom of Bitcoin’s ( BTC ) bear market in 2018 has predicted a strong rally for Litecoin ( LTC ).
Peer-to-peer payments network Litecoin appears poised to surge ahead of its halving event in August, anonymous trader Bluntz told his 223,300 Twitter followers.
The cryptocurrency strategist said LTC looks bullish against its USD and Bitcoin pairs.
“I think LTC is finally ready for the halving.
The USD pair is attempting to break out of the 195-day range and the BTC pair is also firmly back into the previous breakout range, indicating a move towards the top of the range.
There is another stock I would be happy to hold for the long term.”
Looking at the analyst’s chart, he appears to be predicting a rise in Litecoin to $140. As of this writing, LTC is trading at $107.16, which suggests an upside potential of more than 30% if Litecoin reaches Bluntz’s target.
Speaking about Ethereum ( ETH ) competitor Solana ( SOL ), Bluntz said the 11th-largest crypto asset by market cap is showing bullish signs against Bitcoin ( SOL/BTC ).
“The four-hour candle on SOL is close to 10%, plus there is a very nice daily engulfing pattern forming on the BTC pair.”
