Litecoin, Chainlink and Uniswap could all be ready for fireworks, says crypto analyst Nicholas Merten

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Crypto analyst Nicholas Merten is bullish on the altcoin market in general.

The popular trader tells his 465,000 YouTube subscribers that altcoins have room to regain some dominance after Bitcoin’s big leap to a recent high of around $ 46,500.

If you think we’ve just gone through a mid-cycle correction, which we personally think, it would make sense to expect altcoins to continue to climb higher.

Because as you go through the cycle, there is more euphoria in the market, more liquidity. There has been more speculation, more enthusiasm for alternative cryptocurrency projects in the market.

This is exactly what we saw in 2017 and this is what we saw as we scoured the bull market here for the 2020/2021 cycle. “

Merten says he is particularly bullish on Uniswap (UNI), Chainlink (LINK) and Litecoin (LTC).

The analyst claims that the native token of the decentralized exchange Uniswap (UNI) outperforms Bitcoin, calling the situation a “telltale sign” of UNI’s strength.

UNI is trading at $ 29.77 at the time of writing and has risen 56% in the past two weeks, according to CoinGecko.

Merten says Oracle’s decentralized Chainlink (LINK) network is currently in the “discount range.”

LINK is trading at $ 26.78 at the time of writing and has risen over 40% in the past two weeks.

The trader also suggests that the price of Litecoin has fallen to historic support levels in terms of value against Bitcoin. In previous cycles, Merten says LTC rallied after hovering around the 350,000 satoshi level, which is roughly $ 161 at the time of writing.

“When we see the prices drop below that line, it doesn’t last very long here and buyers tend to come in.”

LTC is trading at $ 178.73 at the time of writing and is up 27.6% in the past two weeks.

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Featured Image: Shutterstock / Jag_cz

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