The ethereum-based altcoin looks set to hit a new all-time high after rallying 190% in 2023, according to a widely followed cryptocurrency analyst.
Layer 2 Optimism (OP) scalping solution could hit new all-time highs after rallying within an ascending triangle pattern for weeks to consolidate, Trader Smart Contracter said.
“After several weeks of sideways/consolidation, the OP has a nice bullish triangle breakout.
Likewise, all corrections from highs are three-wave corrections.
I think it will eventually hit an all-time high. “
Source: Smart Contractor/Twitter
At the time of writing, OP was trading at $2.66, down more than 1% on the day but up about 190% since the start of the year.
The crypto strategist then turned his attention to the Litecoin peer-to-peer payment network.
The Smart Contracter says he missed out on taking advantage of the latest Bitcoin bull run by making mistakes and selling during periods of low volatility, but he is now looking to add to Litecoin as he sees the altcoin trending against the largest cryptocurrency (LTC /BTC) .
“I think LTC/BTC is very close to a reversal and higher daily lows.”
Source: Smart Contractor/Twitter
The LTC/BTC pair is currently trading at 0.00318 ($96.5).
Smart Contracter then set its sights on Ethereum, the leading smart contract platform. According to the trader, concerns surrounding the platform’s new Shanghai upgrade, which now allows users to withdraw their staked ETH, are unfounded. He also believes that top altcoins are creating an atmosphere for bitcoin price action in 2019, as the cryptocurrency king rallied around 300% in a matter of months.
“I still think people are overreacting to Shanghai unlocking ETH after the upgrade, all I get is 2019 vibes.”
Source: Smart Contractor/Twitter
At press time, ETH was trading at $2,089, down nearly 1% over the past 24 hours.
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