2 November 2024
Analyst Michaël van de Poppe Predicts Massive Price Target for Litecoin
Michael van de Poppe, one of the closely followed traders and analysts, was reportedly seen disclosing his bull market target for Litecoin (LTC) while mapping out potential plays for two other low-cap altcoins.
In a new YouTube video, the analyst tells his 142,000 subscribers, stated that peer-to-peer payments network Litecoin can potentially ignite a 286% rally before the current market cycle comes to a close.
He voiced, “when we’re getting expansion happening in the next bull cycle of Litecoin, we could be seeing the Fibonacci extension taking place here once again. And then the 1.618 [level] is $600, and the second one will probably chase toward $1,000. So yes, I’m very bullish on those older altcoins, especially given the structure that they are giving us.”
Presently, Litecoin is trading at $260. Besides, Litecoin, the analyst, is also looking at OMG Network (OMG), an enterprise solution for secure and fast transfers on Ethereum. According to the crypto strategist, OMG Network can launch a 108% rally against Bitcoin (OMG/BTC) as long as it holds support at 0.00024 BTC ($16.10). Crypto Strategist with 477,900 Twitter followers asserted that “Crucial support is the green zone, that should hold. If that holds, we might see continuation towards the upper level in the red zone (1.618 Fibonacci extensions).”
Hybrid blockchain platform ICON (ICX) is the second coin on traders’ radar. According to Van de Poppe, ICON is gearing up for a 65% rally against Bitcoin (ICX/BTC) as the pair looks ready to surge to its immediate resistance at 0.000053 BTC ($3.55).
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