Crypto Analyst Anticipates Bullish Momentum for Avalanche (AVAX) and Provides Insights on Zilliqa (ZIL) and Litecoin (LTC) Price Movements.
In a recent update, prominent crypto strategist Michaël van de Poppe shared his optimistic outlook on several cryptocurrencies. According to van de Poppe, Avalanche (AVAX), a strong competitor to Ethereum (ETH), appears to be gearing up for a significant upward movement. After briefly surpassing the resistance level at $14, AVAX is showing bullish signs, as indicated by van de Poppe to his 660,000 Twitter followers.
Van de Poppe believes that Avalanche might experience a cooling-off period before initiating its next leg up. He expressed enthusiasm about AVAX’s breakthrough of previous highs, suggesting that a period of consolidation is likely. In terms of potential buying opportunities, he highlighted the price range between $12.70 and $12.95, with a target towards $16.
As of the time of writing, AVAX is currently trading at $13.33, signaling a favorable position for potential investors.
Moving on to Zilliqa (ZIL), a blockchain platform focused on enterprise solutions, van de Poppe foresees a potential pullback to around $0.018. Despite ZIL’s impressive 60% rally within a month, he emphasized the need to wait for price lows and further investigate before considering long positions.
At present, ZIL is valued at $0.019, presenting an opportunity for investors to monitor for potential favorable entry points.
Regarding Litecoin (LTC), a popular peer-to-peer payments network, van de Poppe stressed the significance of staying above the 200-week exponential moving average (EMA) for LTC’s chances of rallying ahead of its upcoming halving event in August. If LTC manages to maintain its position above the 200-week EMA, it may pave the way for continued growth.
Van de Poppe stated, “We are currently retesting the 200-week EMA, and it is crucial to hold this level if we want Litecoin to pursue further gains before the halving event.”
As of the latest update, Litecoin (LTC) is currently being traded at a price of $93.86, which is just below the 200-week exponential moving average (EMA) standing at approximately $95.50. This price level holds significance as it serves as a crucial indicator for LTC’s price trajectory.
The 200-week EMA is a widely observed technical indicator used by traders to assess the long-term trend and potential support or resistance levels. In the case of Litecoin, remaining above this moving average is essential for sustaining positive momentum and potentially paving the way for further price appreciation.
These insights from van de Poppe offer valuable perspectives on the potential movements of Avalanche (AVAX), Zilliqa (ZIL), and Litecoin (LTC), empowering investors to make informed decisions in the dynamic crypto market.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.