Cryptocurrency analyst Michaël van de Poppe shared his views on the three altcoins in a recent tweet. It analyzed price movements and potential scenarios for Litecoin (LTC), Polygon (MATIC), and Arbitrum (ARB).
Litecoin (LTC)
For LTC, he said the coin is facing resistance on a longer timeframe at $93 and must be broken to initiate a rally before the upcoming halving event. He noted that the coin bounced strongly from the $82 support and formed a bullish weekly candle. He suggested that if LTC can break above $93 next week, it could trigger a halving rally.
Polygon (MATIC)
For MATIC, he said the coin is doing well after its partnership with NFT platform Ethernity Chain was announced during the Monaco Grand Prix Formula 1 race. He claimed that he wants to see MATIC turn $0.95 into a support level, which will open the way up to $1.30-1.50. However, he also warned that if MATIC fails to exceed $0.95, it will activate the short position and look for long entries at $0.75.
Arbitrum (ARB)
For ARB, he said that the coin retested the resistance it had to break and flip at $1.18 to continue its uptrend. He stated that if ARB pulls back from resistance, it will seek entry at $1.10. However, he also stated that if there is a drop below $1.18, he will think in favor of the bear. He argued that if $1.18 holds, there could be a rally to $1.30.
*Not investment advice.