A popular cryptocurrency strategist says he has his eye on three altcoins that are showing signs of strength early in the year.
Pseudonymous analyst DonAlt told his 448,700 Twitter followers that his current favorite altcoin is peer-to-peer payment network Litecoin (LTC).
Litecoin looks bullish against USD and Bitcoin (LTC/BTC), according to crypto strategists.
“The BTC pair has crashed and returned to range lows with great force. As long as 0.00319 BTC ($53.05) holds, we should expect a 4x high range. The USD pair has also broken out. LTC Halving [this] year too. nice coin. ”
As of this writing, LTC is trading at $74.59, up more than 7% over the past 24 hours.
Another altcoin that traders are eyeing is the privacy-focused protocol Monero (XMR). According to DonAlt, Monero shows relative strength against Bitcoin (XMR/BTC).
“Looks very good for BTC as long as it holds the breakout level of 0.0073 BTC ($121.39).
The USD pair is not very useful. It ranges from ~$90 to ~$230 in a huge range.
A notable strength, especially considering other alt-sectors are basically down 90% against BTC.
I like 2023 “
At the time of writing, Monero is trading at $148.87, up 1.35% for the day.
The final altcoin on DonAlt’s list is Smart Contract Protocol Tron (TRX). According to crypto analysts, TRX already looks “amazing” against Bitcoin (TRX/BTC).
“I have rarely seen a good looking high timeframe BTC chart paired with a USD chart that looks this bad. It looks good above $0.063 against the US dollar.”
At the time of writing, TRX is trading at $0.054, a slight drop for the day.
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Featured Image: Shutterstock/Alina Spiridonova/Natalia Siiatovskaia/Fotomay
