Michaël Van De Poppe: Five Low-Cap Altcoins May Be At Price Bottom
According to a widely-followed crypto analyst and trader, Michaël van de Poppe, the bottom could be in for five low-cap altcoins: SKL, MATIC, ICX, FTM and ZIL.
Skale (SKL)
Van de Poppe reveals to his growing number of Twitter followers that he’s looking at Skale, a blockchain network that allows developers to create and provide decentralized chains that are completely compatible with Ethereum.
Skale is currently consolidating against Bitcoin (SKL/BTC) as it continues to trade above heavy support of 0.00000629, says the analyst.
“This one is still consolidating on a level pre-rally levels. A great one for entries around these zones.”
— Michaël van de Poppe (@CryptoMichNL) July 11, 2021
Polygon (MATIC)
Second coin on the trader’s watchlist is blockchain scaling solution Polygon (MATIC), which he says is readying for a strong bounce after touching critical support at $0.97.
“This one is the same as SKL. On heavy support, through which it seems likely that it’s bottomed out relatively soon and ready for a relief rally. $1.35 and $1.60 are next then.”
— Michaël van de Poppe (@CryptoMichNL) July 11, 2021
ICON (ICX)
The next altcoin on the list is the hybrid blockchain platform ICON. According to van de Poppe ICON is getting ready to print a higher low against Bitcoin (ICX/BTC) at 0.000025 after rallying from a key support level. A bullish higher low setup could be the trigger that catapults the pair to 0.000041, representing a potential surge of 64%, says the analyst.
— Michaël van de Poppe (@CryptoMichNL) July 11, 2021
Fantom (FTM)
Van de Poppe also includes Fantom in his list. Fantom is a network of custom blockchains that aims to power smart cities. The analyst point out that Fantom has bounced from heavy support at 0.000006 against Bitcoin (FTM/BTC), and the pair must now take out its immediate resistance to ignite a strong rally.
“Points of interest are very clear and breaking the upper resistance around 780 sats (0.0000078) should push this one up heavily.”
Points of interest are very clear and breaking the upper resistance around 780 sats should push this one up heavily. pic.twitter.com/kx8HbZetre
— Michaël van de Poppe (@CryptoMichNL) July 12, 2021
Zillica (ZIL)
The last coin on the trader’s radar is the high-throughput blockchain Zilliqa (ZIL). Van de Poppe expects ZIL to once again hit critical support at $0.06 before launching a 233% rally to his target of $0.20.
“The USD pair is just consolidating here, just like most of the markets. Back to pre-rally levels, down 75%. I’m thinking we’re close to a bottom as interest is close to zero. Breaking $0.09 and $0.135-0.145 next.”
