Ethereum, Litecoin, And More Altcoins Are Poised For A Major Rally
The crypto market is revived today, with all the important coins trading in the green.
There are some optimistic predictions popping up these days, and one of them is made by Nicholas Merten.
Seven digital assets are expecting a bull run
Crypto strategist Nicholas Merten recently named seven altcoins that he believes are in a great position to enter a new bull market cycle.
During the latest episode of DataDash, the crypto analyst examined when the altcoin market may begin to turn bullish.
“What it looks like [Bitcoin is] doing is possibly coming up here to around $11,000, breaking out of this very long-term wedge, breaking out above resistance, and making it support for the next coming months. If [Bitcoin] can do this and start to trigger the next cycle, this is actually very good news for altcoins,” he said.
He continued and explained: “Now, why is that? It’s because we need an increase of liquidity and valuation in Bitcoin markets in order to usually see that kind of benefit go onward to altcoin markets.”
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $9,252.61.
New altcoin season
Merten said that if and when a new altcoin season begins, ETH will see a surge in price by the end of this year, sometime in the winter.
ETH is also trading in the green, and the coin is currently priced at $208.35.
Another coin that he’s interested in is Litecoin – he’s expecting a rebound. The other coins that Merten said will see a boost in price are Chainlink (LINK), Kyber Network (KNC), Unibright (UBT), Ren (REN), and Compound (COMP).
Check out all the details that Merten had to reveal in the Daily Hodl’s article.
Bitcoin is also expected to retest the important level of $10k once again.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.