Alternative season ahead? Analyst Predicts ETH, LTC, XRP Price Rally

While various members of the cryptocurrency community have been waiting for a season of altcoin, cryptocurrency analyst Nicholas Merten brought them some hope. In his latest YouTube video, Merten talks about a potential alternative season.

Litecoin In for a 400% profit against Bitcoin

More than a decade ago, Satoshi Nakamoto launched Bitcoin to the market. This paved the way for many more cryptocurrencies that entered the market over the years. Despite the existence of numerous altcoins, Bitcoin has always maintained its dominance over crypto verse. However, leading crypto analyst Nicholas Merten suggested that alternative currencies have a chance to take over the crypto market.

On his YouTube channel DataDash, in a recent video, Merten noted that long-term indicators were tilting toward a reversal.

This year, the price of the second largest cryptocurrency has witnessed significant fluctuations. During the peak of the pandemic, the altcoin dipped to a low of $ 106.25. However, the currency found its way to recovery and has now been mainly moving sideways. Crypto analyst Merten believes Ethereum price was moving favorably with higher lows and limited selling activity. He further added:

“Now, all we are looking for is higher highs compared to what we have set here in December 2018.”

At time of writing, ETH was trading at $ 226.04 with a 0.43 percent drop in price.

Litecoin, on the other hand, could conceivably make a 400 percent gain against Bitcoin if the currency moves towards the exit zone.

Furthermore, Merten suggested that these altcoins could continue to move sideways for a while, however this could also act as a catalyst. He stated,

“… if one or two of these dominoes are starting to show that a complete storm is likely to start for the entire crypto industry to the upside.”

Despite the various partnerships Ripple is engaging in, the price of XRP has not witnessed any significant increase. However, things are probably about to change for XRP. Merten noted that a descending wedge took over XRP in 2016 and 2017 and lasted almost a year. Soon after, Altcoin witnessed the largest outbreaks in cryptocurrency history. Once again, XRP has formed a downward wedge and an upward trajectory could soon take place.

Also, altcoins with smaller market capitalization like Kyber Network [KNC]Kava [KAVA], iExe RLC [RLC]Ren [REN] along with several others they are in a possible rally. However, the volatile nature of the crypto market could affect predictions.