Litecoin (LTC) Shows Up Potential Opportunities Now, Says Top Trader Clark

Key Points:

• LTC is building a structural pattern that has historically indicated bottoms and reversals.
• Binance experienced FUD in the previous weeks in accordance with its solvency has passed and BNB should profit from the improved trust.

According to a well-known cryptocurrency trader, Litecoin’s peer-to-peer payments network may be worth monitoring right now (LTC).

Cantering Clark, a fictitious trader, tweets on Twitter that LTC is building a structural pattern that has historically indicated bottoms and reversals.

LTC is seen rebounding off a support level at about $71 on Cantering Clark’s chart.

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. 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?

Similar prospects are seen by the trader in Binance Coin (BNB), the native token of the world’s largest crypto exchange. He claims that the FUD (fear, uncertainty, and doubt) that Binance experienced in recent weeks over its solvency has passed and that BNB should profit from the improved trust.

We are in a contextually attractive area to define short term bias for both directions. If the long is invalidated by losing something like 253, then an attractive short opportunity with risk defined above today’s high sets up.

Last week, the well-known trader stated that Ethereum (ETH) competitor Solana (SOL) was nearing a low.

Looks like the market might actually be a bit crowded here. I think that my own interpretation of calling for another 50% drop along with everyone else calling for $3 might be the signal that this thing is completely one-sided and potentially bottoming here for the near future.

The cryptocurrency trader called Solana correctly thus far. SOL is currently trading at $13.17, up more than 60% from its low of $8.0.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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