A widely followed crypto analyst says an Ethereum-based altcoin (ETH) is set to hit new all-time highs after surging 190% in 2023.
Pseudonymous trader Smart Contracter recount its 222,300 Twitter followers that layer 2 scaling solution Optimism (OP) will likely end up hitting all-time highs after breaking weeks of consolidation inside an ascending triangle pattern.
"Nice upward triangle breakout on OP after weeks of sideways/accumulation.
Also like how all down moves from the highs are corrective three wave moves.
I think this one ends up reaching all-time highs.
OP is trading at $2.64 at the time of writing, a gain of 8.16% on the day and an increase of around 190% since the start of the year.
The crypto strategist then turned his sights on the Litecoin (LTC) peer-to-peer payments network.
Smart Contractor says he lack on whether to capitalize on the last Bitcoin (BTC) rally because he made a mistake and sold during a period of low volatility, but now he is looking to accumulate Litecoin because he thinks the altcoin is sending a bullish signal against the king of crypto (LTC /BTC).
“I missed this most recent BTC pulse because I was rocked during the low [volatility] Easter vacation (rookie mistake). I am now looking to chase alts with good BTC pair setups, and I think LTC is one of them. I think LTC/BTC is very close to a reversal and a daily low.
The LTC/BTC pair is currently trading at 0.003148 ($95.64).
Smart Contracter then turns its attention to the leading Ethereum smart contract platform. According to the trader, the fear surrounding the new platform update in Shanghai, which now allows users to withdraw their staked ETH, is not justified. He also has believes top altcoin rocked the vibes for bitcoin's price action in 2019 when the king of crypto surged around 300% in a matter of months.
"I still think people are completely overreacting to the ETH Shanghai unlock and all I'm getting are the 2019 vibes."
ETH is trading at $2,095 at the time of writing, down nearly 1.5% in the last 24 hours.
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