By Solomon Odunayo
A popular cryptocurrency analyst, Nicholas Merten, who is the CEO of Digifox and creator of DataDash, has recently averred that Ethereum (ETH), XRP, Litecoin (LTC), and six other digital currencies are poised for an outstanding performance against the leading cryptocurrency Bitcoin (BTC).
Nicholas Merten made this known during the recent episode of DataDash. There, he pointed out that the signals he’s seeing indicate that some altcoins will prove to be solid against Bitcoin (BTC).
Regarding the digital token XRP, Merten stated that XRP will possibly face short term pain, but he looks forward to seeing the cryptocurrency in a parabolic uptrend against Bitcoin (BTC) as soon as its bullish pattern is complete.
Concerning Litecoin (LTC), Merten stressed that the digital currency will offer a big move against Bitcoin (BTC) once it downtrends to the tried and tested buy zone.
Merten said:
“These longer-term indicators are starting to showcase that we’re setting up for a reversal. If you just take a look at the price here, this is beautiful. This is exactly what we want to see. It’s nice sideways consolidation, higher lows, and again not any further sell-side activity. Now, all we’re looking for is for higher highs compared to what we have set back here in December of 2018.”
“It’s been over a year now that we have been in this descending wedge and I have no doubt it is probably going to be another couple of weeks maybe another month or so until we really get a break on it. After that, that is when we can start to see the kind of volatile kick up to the upside and we start to get almost a parabolic rise here for cryptocurrencies.
“When we get down to that range, it is either instantly uplifted – buyers start coming in around this price range – or a matter of less than a week. After that, we kick off what is about a 400% gain against Bitcoin,” Merten noted.
The top analyst also mentioned a number of other altcoins that are set for upside movement against the king of coins BTC. The coins he mentioned are Kyber Network (KNC), Ren (REN), Aave (LEND), Basic Attention Token (BAT), Kava (KAVA), and iExe RLC (RLC).
Howbeit, Merten noted that the crypto market is at times unpredictable, as anything is possible in the space full of volatility and risk.