The Experienced Analyst Especially Attracted Attention! That’s the Altcoin!


Closely followed crypto currency analyst and trader Justin Bennett expressed his positive feelings towards Litecoin (LTC), which is shown as an alternative to the largest crypto currency Bitcoin (BTC). The analyst also warned investors about the largest altcoin Ethereum (ETH).

Analyst’s Expectation from Litecoin

Popular crypto analyst and trader Justin Bennett told his more than 110 thousand Twitter followers that he expects a rise in Litecoin and expects the 13th largest crypto currency by market capitalization to outperform even Bitcoin.

According to the analyst, it is likely that LTC will continue to stay between about $30 as support and $465 as a resistance zone until 2023, as it did in Dec 2022:

I expect a rise in LTC in the short term, especially against BTC, but there is no reason to think that this will not be repeated in 2023.

Litecoin is trading at $77.25 at the time of this writing, while Bitcoin is changing hands at 17 thousand 24 dollars. The Litecoin/Bitcoin (LTC/BTC) pair has risen by about 70 percent in the last 30 days and more than 20 percent in the last two weeks.

The Danger of Traps in Ethereum

Cryptocurrency analyst Bennett looked at the largest altcoin Ethereum after Litecoin. Bennett said that the second largest crypto currency by market capitalization will repeat last month’s price movement and expects it to probably fall after reaching the local peak, saying:

I mentioned this to the members yesterday, but ETH has created a similar pattern to what we saw at the end of November. He rushes to local peaks to trap long (long) positions, and then the price movement may reverse and fall.

Looking at the price chart that the crypto currency analyst shared for Ethereum, it seems to point out that the leading smart contract platform is on its way to reach the local peak level around $ 240 thousand before returning to the price of $ 320 thousand. ETH is trading at a thousand 287 dollars at the time of this writing.

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