Merten said this on the latest episode of DataDash. He stated that retraction in the altcoin markets is giving traders and investors the opportunity to accumulate before the next bullish breakout.
Regarding Litecoin (LTC), he said bulls will trigger a fresh price rally as soon as they are able to capture a key level.
Nicholas Merten also revealed that he’s long-term bullish on Ethereum (ETH), believing that the second-largest cryptocurrency will keep up its surging trend to a new all-time high as long as the digital token properly scales.
“Now that we have had this pullback here, [it] does provide an opportunity for some bulls who have missed out on a lot of this kind of exponential portion of the rally to get back in…
The major thing to focus on, as I think really a lot of the large caps and a lot of the established protocols, so some of the new emerging protocols, I know some of you are going to be excited for me to say this. Plays like Cardano, plays like Tezos, some of the other ones alongside some of the large caps like Ethereum, Litecoin, XRP, this is going to be our major focus here.”
“Just like Bitcoin, just like Ethereum, building up long-term technical formations, Litecoin has very clear points of resistance and support. It looks like here, if you really take a look at the log chart, we just need to basically get above $70, we could really start to see this take off.”
“It’s already built up support on previous resistance and broken out here… I think it’s going to continue to go up, eventually to set all-time highs and accelerate towards even higher levels.”