A renowned cryptocurrency analyst believes Litecoin altcoin is preparing for a “pre-halving rally,” which should begin in early August.
Michel van de Poppe opined that the LTC coin needs to overcome strong resistance at the $93 level to start the rally.
In this case, the analyst believes that the next few days should be the most important for the start of growth of the altcoin.
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“There are enough lines on this chart, but resistance on the higher timeframe remains at $93.
The support for LTC is at $82, so we see quite a strong bounce, and the weekly candlestick looks promising.
If LTC breaks through $93 next week, we should expect the coin to grow twice,” Michael van de Popp said.
The analyst said that he is closely watching the cryptocurrency MATIC project Polygon.
In his opinion, the coin can grow by 50% or 60% if it manages to consolidate above $0.95.
Van de Popp also touched bitcoin, but without much detail: he wrote that he expects the growth of the first cryptocurrency to continue.
Recall that according to analyst Tone Vays, bitcoin is in excellent position for growth above $30 000 now.