Analyst Michaël Van de Poppe Shares 3 Undervalued Altcoins for 2022
Michaël van de Poppe, a top crypto strategist and trader, looks into 2022 in crypto and shares what his crypto portfolio for next year looks like.
In a recent video, Michaël van de Poppe shares with his 156K subscribers on YouTube that there are three altcoins that look very strong as we move closer to the end of year 2021. Van de Poppe says that he has been building up his portfolio with digital assets that he thinks are undervalued.
Cosmos (ATOM)
First on his list is the decentralized parallel blockchain network Cosmos (ATOM).
“The first one is ATOM, which is currently showing strength in the price action but has been seeing some cycles that are important to look at.
In this case, we’ve had a beautiful run at the beginning of 2021. We’ve had a harsh correction [starting in May] which got towards a beautiful retest.
When we’re looking at the current price action, we’ve had a beautiful run as well, and we’ve had a very harsh corrective move which results in a beautiful retest happening once again.”
Regarding price targets for ATOM’s valuation, the analyst cites the 1.618 Fibonacci extension as he scenarios for the price to climb up to $60 and maybe even as high as $100.
“The chances are that we’re going to face ourselves a new run towards the 1.618 Fibonacci in the first run upwards, which might bring us towards $60.
But if we use the entire move previously, which might bring us towards $67, or even the next one joining the $100 category.”
Cosmos is currently on a bull run, with ATOM trading at $27.52, up 13.6% on the daily chart.
Curve DAO Token (CRV)
Another project on Van de Poppe’s list is the decentralized exchange (DEX) and automated market maker (AMM) protocol Curve Finance and it’s governance token Curve DAO Token (CRV). According to the analyst CRV’s higher lows and higher highs are the reason, why he is excited about the coin’s future price action.
“[CRV] is currently leading up towards a big breakout, given the fact that we’ve just been witnessing a beautiful retest… after a big run already.
We’re constantly making higher lows, higher highs, which might bring us a result that we’re going to have an acceleration into price discovery for Curve.”
CRV is also up today, trading at $5.25 with 8% upside on the daily chart.
SushiSwap (SUSHI)
Van de Poppe also discusses SUSHI, the native token of Ethereum-based DEX SushiSwap.
After SUSHI took an 80% downfall, the analyst became very interested in the asset.
“We are currently facing a beautiful retest for SUSHI. I think the moment that it breaks above this level that we have ($4.64 – $6.19), then $6.25 to $7 is going to be the actual trigger.
I think if this one breaks at $7.35, actually, we’re going to see a new expansion when it comes to SUSHI.”
At the time of writing SUSHI is trading at $6.32 up 7.5% on the daily chart.
