A popular crypto strategist says that the altcoins currently showing market strength despite Bitcoin’s (BTC) downturn may spearhead the next digital asset rally.
Pseudonymous analyst Credible Crypto tells his 463,000 followers on the social media platform X that payment tokens Litecoin (LTC) and XRP may soon be top market performers as they hold key support levels above recent low prices despite Bitcoin’s price collapse this week.
“At this time, for the the first time in a while, select alts are holding their own against prior lows while BTC has nuked below its own relative range lows. Look for those alts that have held their relative lows on this drop; they may be the ones to lead the next rally. Great examples at the moment are LTC and XRP (you seeing a theme here?).”
LTC is trading for $127 at time of writing, up marginally in the last 24 hours. Meanwhile, XRP is trading for $2.15 at time of writing, down 1.6% on the day.
The analyst also says that Bitcoin may trade sideways in the coming days before a breakout.
“BTC tagged $79,000 and we are now seeing some relief. Only two levels that really matter from my perspective at the moment: local supply at $94,000-$99,000 and high timeframe demand just under $74,000. I suspect we form a base between these two levels over the coming days before a full-on reversal.”
Bitcoin is trading for $85,070, up fractionally in the last 24 hours.
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