Crypto Trader And Analyst Van De Poppe Lists His Top 5 ‘Blue Chip’ Coins
Michaël van de Poppe a prominent cryptocurrency analyst and pro-trader is keeping a close eye on the price action of five altcoins that he sees showing huge upside potential: Polkadot, Cosmos, Tezos, Synthetic and Chainlink.
Polkadot (DOT)
In a recent video, the analyst shares with his 118,000 subscribers that interoperable blockchain Polkadot (DOT) is a candidate for a strong rally, assuming it takes out a key resistance area.
“Once it breaks $29, it’s going to run very heavy here. When we’re looking at the USDT (Tether) chart, this resistance at $29 is very comparable to, for instance, Solana (SOL), that also cracked this level and started to overshoot, just like LUNA (Terra) did as well. Levels that I’m looking at with DOT to accumulate on are those two that we have here. So the level around $21 is one that I’m looking at. The level around $18 is the second level that I’m looking at.”
Cosmos (ATOM)
The second coin on Van de Poppe’s list is Cosmos (ATOM), a platform that aims to assist developers in building different blockchains that can transact and exchange data, creating a decentralized Internet of Blockchains. Cosmos has a good chance to continue its uptrend assuming it holds important support at $16, according to the analyst.
“When we’re looking at the USDT pair, clearly we have a few levels to watch. The first one is the retest here around $16. That would be great if we can hold that. Second, if that doesn’t grant any support, I’m going to look around $12. But given the harsh correction that we just had, most likely we’ll be getting something like this before we start to continue moving further up.”
Tezos (XTZ)
The trader is also looking at smart contracts platform Tezos against its Bitcoin pair (XTZ/BTC). The pair is recording higher highs and higher lows and has potential to soar over 70% to 0.00019 BTC ($8.85) if it breaches resistance of 0.00011 BTC, worth $5.12.
“We could be seeing continuation on Tezos happening here. What is the level that I’ll be looking at for the third one? That is the level that we have around [0.000087 BTC or $4.11]. So this entire block that we have here. That is where I’d be looking at if you want to scoop a position in Tezos.”
Synthetix (SNX)
Van de Poppe predicts that decentralized finance platform Synthetix, could double in value against Bitcoin (SNX/BTC) assuming its stays above a key level.
“But if we do have some sort of sideways structure, this entire range [0.00021 or $9.91] is where you want to be looking at, and easily, you can just target ranges that are almost 2x from here in the Bitcoin pair.”
Chainlink (LINK)
Finally the analyst covers decentralized oracle platform Chainlink in its Bitcoin pair (LINK/BTC), which possibly makes one more leg down before it’s ready to go up again.
“This block [0.00045 BTC or $21.24 ] is where I should be getting interested. If we do lose that block, then we still have another one here which is this range around 0.00041 BTC ($19.36) that is still untested. Those two ranges are where I would be scooping in a long at this point.”
LINK/BTC pair could bottom out if it taps 0.00041 BTC and reclaims 0.00045 as support, the trader estimates.
