The peer-to-peer payments network for Litecoin is something to keep an eye on right now (LTC).
A fake trader named Cantering Clark tweets on Twitter that LTC is forming a structural pattern that has previously pointed to bottoms and reversals.
On Cantering Clark's chart, LTC is seen bouncing off a support level at roughly $71.
Is Litecoin about to wow everyone? I haven't looked at this since the baby came, and when I did I was expecting a breakdown.
— Clark (@CanteringClark) January 4, 2023
Instead there is a lot of structural and trend similarity to a prior bottom. Difference is context and an unforgiving environment for risk. Will it care? pic.twitter.com/9C6w7IBS9E
The trader in Binance Coin (BNB), the native token of the biggest cryptocurrency exchange in the world, sees similar prospects. He asserts that BNB should benefit from the increased trust as the FUD (fear, uncertainty, and doubt) that Binance experienced in recent weeks regarding its solvency has subsided.
👀on $BNB - Binance fud is mostly out of the narrative.
— Clark (@CanteringClark) January 4, 2023
Historically a strong pair against BTC and ETH, so maybe we see some strength and return back to prior norms.
The R:R for a long here on a breakout of the last 2 week range is well defined & failure sets up a good short. pic.twitter.com/LolxT3UAim
We are in a situation where it makes sense contextually to define short-term bias in both ways. A tempting short opportunity with risk specified above today's high arises if the long is invalidated by a loss of about 253.
The well-known trader claimed Solana (SOL), a rival to Ethereum (ETH), was getting close to a low last week.
It appears like the market may be a little busy right now. I believe that the fact that everyone is forecasting a further 50% decline and that I am forecasting a price of $3 indicates that this market is utterly unbalanced and may be bottoming out right now.
So far, the cryptocurrency trader has properly identified Solana. SOL has increased by more than 60% from its low of $8.0 to its current price of $13.17.
