The past weekend was pretty bullish for the crypto space as the prices were slightly inflationary.
Moreover, continued consolidation of around $16,500 was believed to offer a bullish push to Bitcoin and the entire market. But with a fresh weekly start, the bears quickly pulled off some profits, adversely impacting the prices to some extent.
A well-known crypto analyst DonALT recently updated his views on the XRP & Litecoin price prediction, meanwhile warning his 444.8K followers about a massive bearish for Ethereum price.
The analyst in his latest video says that the ETH price is trading with a very narrow range between $1,120 and $1,200 which is the last level of support before the token marks new lows.
“You would actually want to see buying step in quite aggressively. I would like to see a V-bottom out of this alone. So far, we haven’t gotten it. That has me a little bit nervous,”…” Right now ETH is on the edge. It’s in between support and resistance…If it starts breaking down, you’re going to see massive losses,”
Further, the analyst believes that the XRP price has the potential to rise high if it manages to test and clear key resistance levels.
“So basically at $0.33 to $0.4, that’s all weekly resistance. If we close above it, that would also be a range breakout, not as a nice one as Litecoin, but the cool thing here is that it has already broken this range once. So if you break it again, especially given the first break was so significant, you’d expect it to just outperform massively,”
Moving on to Litecoin price which is making significant bullish moves in the past 7 days, the analyst believes the asset could maintain the current upswing as it broke above the multi-month range.
“The $80 area is an interesting one. It is resistance. I think it’s basically resistance for the people that think that this is a false breakout. I mean this is a multi-month breakout. It’s a massive range. It’s one of the biggest, cleanest ranges we’ve had in a long time, and we actually just broke it to the upside. You wouldn’t want to necessarily fade this.”
