High-profile crypto traders say now may be the time to turn their attention to peer-to-peer payment network Litecoin (LTC).
A pseudonymous trader known as Cantering Clark tells his 156,000 Twitter followers that LTC is forming a structural pattern that previously indicated troughs and reversals.
Cantering Clark’s chart shows that LTC is bouncing off support levels around $71.
“Is Litecoin going to surprise everyone? I haven’t seen this since the baby was born.
Instead, there are many structural and trend similarities to previous bottoms. The difference is the context, the unforgiving environment for risk. does that matter?
Traders see similar opportunities for Binance Coin (BNB), the native token of the world’s largest cryptocurrency exchange. Binance FUD (Fear, Uncertainty, Doubt) faced That solvency is a thing of the past and BNB should benefit from increased trust.
“[Eyes] About BNB – Binance fud is mostly out of the story.
Historically a strong pair against BTC and ETH, we may see some strength and a return to previous levels.
The R:R (Risk to Reward) for longs on breakouts of the range over the past two weeks has been well defined and failure sets the right shorts…
ELI5 (explain like I’m 5):
We are in contextually tempting territory to define short-term biases in both directions. If the longs are invalidated by losing something like 253 the high setup today It is an attractive short opportunity with defined risk over . “
Last week, a popular trader said Ethereum (ETH) rival Solana (SOL) was showing signs of bottoming out.
“The market here actually seems a little crowded. I think it could be an indication that we may hit bottom here in the near future.”
So far, crypto traders’ judgment on Solana is accurate. At the time of writing, SOL is trading at $13.48, up 62% from its all-time low of $8.30.
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Generated image: In the middle of the journey