Michaël van de Poppe Lists His Top Five Altcoins To Follow In August
Michaël van de Poppe, a popular cryptocurrency analyst and trader reveals his select five altcoins that he predicts will take off in August.
Elrond (EGLD)
Van de Poppe shares in a recent video session with his 110K YouTube followers that scalable blockchain network Elrond (EGLD) is finding solid support in its Bitcoin pair (EGLD/BTC) at 0.0018 BTC, worth about $71.52 at time of writing, and could reach between 0.007 BTC to 0.008 BTC ($278-$317) on the next leg up.
The EGLD/BTC prediction that the analyst laid out, represents potential gains of over 344%.
Van de Poppe’s prediction is based on the pair’s price action at the start of the year when it consolidated at 0.0008 BTC ($31.84) before surging to a 2021 high of 0.005 BTC ($198) in February. A similar move could take EGLD/BTC to his price targets, says the trader.
Fetch.ai (FET)
The second altcoin on the list is decentralized artificial intelligence tool Fetch.ai (FET). According to Van de Poppe it will likely continue its bullish pattern in the next month against Bitcoin. The crypto trader says FET is printing a bullish higher low setup at 0.000005, worth about $0.20, which could ignite a rally to resistance at 0.000027 BTC ($1.07), marking an increase of 440%.
Skale Network (SKALE)
Next the trader’s list is Ethereum compatible layer-2 solution Skale Network, which the analyst believes, is forming a bullish divergence against Bitcoin (SKL/BTC). If SKL/BTC can produce a higher low at 0.0000067 BTC or $0.27, the crypto strategist predicts a bullish ascent to resistances at 0.0000081 BTC ($0.31) and 0.00001 BTC ($0.40).
Kava.io (KAVA)
The fourth altcoin on the trader’s list is decentralized finance (DeFi) lending protocol Kava.io. KAVA is experiencing buying pressure on the BTC chart (KAVA/BTC) that could drive the value of the pair higher in the coming week, according to Van de Poppe. KAVA/BTC needs to rally above its immediate resistance at 0.00014, worth $5.57, to ascend to his price targets, he says.
“If we break out, I’m looking at 23,000 sats [0.0002 BTC or $9.15]. I’m also going to look at 35,000 to 38,000 [0.00035 BTC to 0.00038 BTC, or $13.93 to $15.12] next.”
Swipe (SXP)
The fifth and last coin on Van de Poppe’s list is SXP, the native digital currency of payments network Swipe. According to the trader, SXP can produce significant gains once it cracks resistance at 0.000053 BTC, worth about $0.21.
“The trigger points are breaking up here [0.000053 BTC], flipping it, because then we’re going to correct this previous range construction and also resistance. Based on that fact, we’re going to use Fibonacci extension to derive the next target points, which are 15,000 sats [$0.60] and 23,000 [sats] [$0.91].”
