Closely followed crypto trader Justin Bennettremains optimistic about Litecoin (LTC). Indeed, another popular altcoin believes that the price is likely to drop.
Sharing on his Twitter account, Justin Bennett announced that he believes the price of Bitcoin alternative Litecoin (LTC) will rise. Ranked 14th according to the Trader, Litecoin may even outperform Bitcoin.
According to analyst’s estimation Litecoin, can continue the performance it showed in 2022 in 2023 as well. He stated that depending on this performance, he will continue to protect the $ 30 base. The top level remains in the $465 area, according to the trader.
“He thinks Litecoin will rise against Bitcoin in the short term. I see no reason why this performance should not continue in 2023.”
At the time of writing, Litecoin is trading around $76. Bitcoin is trading around $16,990. The LTC/BTC pair has gained 70% in the last 30 days, while it has gained a strong 20% in the last two weeks.
Ethereum The trader, who also shared his (ETH) forecast, has a negative view of the leading altcoin. According to the trader, Ethereum could continue its performance from last month and reach a local top. As a matter of fact, after this peak, the price may decline rapidly.
“I’ve mentioned this to my members before, but Ethereum looks similar to the late November model. It creates local tops to trap long positions but then slides in value.”
According to the trader’s charts, Ethereum tends to hit a local top around $1320 before dropping to the $1240 level.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.