Analyst Issues Warning on Litecoin, Updates Outlook on Solana and Altcoin That’s Exploded Over 160% in a Month
Pseudonymous analyst DonAlt tells his 50,400 YouTube subscribers that altcoins are likely going to underperform in the near term.
However, he says there will be some exceptions such as Bitcoin Cash (BCH).
“The one thing that I’m pretty certain about is that we’re going to see altcoins continue to underperform as a whole, but there’s obviously going to be outliers like Bitcoin Cash has been doing okay in the last few days.”
Bitcoin Cash soared from around $105 on June 20th and is trading at $276 at time of writing, a more than 162% increase.
Looking at Litecoin, DonAlt warns that the peer-to-peer payments network may be heading for a market correction.
“I’m not so sure if it’s done or not, the Bitcoin Cash play, but the Litecoin play I’m pretty sure it’s done.”
According to DonAlt’s chart, Litecoin was retesting the $95 level at the time of his prediction. Litecoin has since reclaimed the $103 level, a 7.2% increase in the last 24 hours.
Lastly, DonAlt says if Solana abruptly collapses to $10 it would be a good buy.
“If [Solana] goes to $10 in one candle right now, would I bite? Yes. I generally like it at $10.”
Solana is trading for $29.16 at time of writing, up more than 33.5% during the last 24 hours.
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