DeFi News Daily Official TheBitTimes.com

A widely followed analyst believes that one large-cap altcoin now has a compelling narrative that will fuel its surge to a fresh record high. Pseudonymous analyst Kaleo tells his 685,600 followers on the social media platform X that Litecoin (LTC) appears to be mimicking its 2021 bull market pattern when it shattered a diagonal resistance before surging to a cycle high. According to Kaleo, LTC is repeating a similar price action but he thinks Litecoin will ascend to new all-time highs and breach the $1,000 price area, fueled by the LTC exchange-traded fund (ETF) narrative. “LTC/Litecoin I’ve been waiting for this HTF (high time frame) setup to look like this since the last halving in August of ’23. It’s so insanely clean and simple, and with Bloomberg moving it to the highest % chance for an ETF approval this year, it finally has a narrative to happen. Send it to new all-time highs with haste.”  Source: Kaleo/X Looking at the tra...

A crypto strategist known for calling bottoms believes the altcoin market is one correction away from igniting rallies. Pseudonymous analyst Bluntz tells his 269,600 followers on the social media platform X that he’s keeping an eye on the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin, Ethereum (ETH) and stablecoins. Bluntz says TOTAL3, which is used to gauge the performance of altcoins, looks poised for a leg down before it regains bullish momentum. “Although TOTAL3 structurally looks amazing, very clear five-wave rise from the lows on the four-hour [chart]. I still think an ABC correcting that impulse from the lows is materializing and has yet to do a C wave down. I would be careful being max long right now, good entries will come…” Source: Bluntz/X The analyst practices the Elliott Wave theory, which states that a bullish asset tends to witness rallies after completing an ABC move down. Based on the trade...