As the bulk of cryptocurrencies traded in green, the crypto market cap surpassed $3 trillion for the first time. Bitcoin has been steadily increasing in value over the last 14 days, and it is currently trading at $68,165, up 2% in the last 24 hours.
The majority of major altcoins have remained stable above crucial support. Before beginning a consolidation period, ETH soared to a new all-time high near $4,840.
What’s in Store for LTC , OMG & ICX
Michaal van de Poppe, a well-known trader and analyst, has revealed his bull market target for Litecoin (LTC), as well as potential plays for two low-cap altcoins.
Van de Poppe says to his 142,000 YouTube followers in a new strategy session that peer-to-peer payments network Litecoin might spark a 286 percent rally before the current market cycle ends.
According to him, when the next bull cycle of Litecoin begins to expand, we may see the Fibonacci extension occur once more. The 1.618 [level] is $600, and the second will most likely chase after $1,000. So sure, I’m a big fan of the older cryptocurrencies, especially because of the structure they’re providing.
Van de Poppe is also considering OMG Network (OMG), a corporate Ethereum solution for secure and quick transfers. According to the crypto strategist, as long as support at 0.00024 BTC ($16.10) is maintained, OMG Network can launch a 108 percent rise against Bitcoin (OMG/BTC).
“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 extension).”
ICON, a hybrid blockchain platform, is another coin on traders’ radar (ICX).
ICON is preparing for a 65 percent rally against Bitcoin (ICX/BTC), according to Van de Poppe, as the pair prepares to explode to its immediate resistance at 0.000053 BTC ($3.55).