Dogecoin 'Relative' Nearing Key 'Bounce Long Area' Level, Says Analyst: 'Patiently Waiting For Opportunities'

A popular crypto analyst said that the $78 mark will be a ‘bounce long area’ for Litecoin LTC/USD.

What Happened: Michaël van de Poppe, told his 642,000 followers on Twitter that he is “patiently waiting for opportunities on Litecoin.”
At the time of writing, LTC was trading at $79, down 1% in the last 24 hours. The analyst plotted on the graph that after touching back to $78, LTC will rally to $96 mark.

Patiently waiting for opportunities on #Litecoin. Scalp-wise, around $78 might be a bounce long area too. pic.twitter.com/iyMuQmQiFg

— Michaël van de Poppe (@CryptoMichNL) December 6, 2022

Since FTX filed for bankruptcy, Litecoin has outperformed all other cryptocurrencies, rising 57% compared to Ethereum ETH/USD , which rose 12%, and Bitcoin BTC/USD gained just 3%.

The rally can be attributed to the upcoming LTC halving in mid-2023 when the block reward will be slashed from 12.5 LTC to 6.25 LTC, according to Delphi Digital, a crypto research platform.

Price Action: At the time of writing, apex crypto BTC was trading at $16,998, down 0.16% in the last 24 hours, according to Benzinga Pro.

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