Michaël van de Poppe Shortlists Top Four Altcoins To Own In July
Michaël van de Poppe, a popular crypto strategist and trader, is closely following four altcoins this month that he says are on the ready for huge breakouts.
In a recent video, van de Poppe reveals to his 107K YouTube subscribers that number one on his list is decentralized finance (DeFi) yield aggregator DFI.money (YFII).
According to the strategist, YFII is likely to breakout from its Bitcoin pair (YFII/BTC) as it threatens to take out its immediate resistance.
“[The] crucial breaker that we are facing is the resistance zone over here (0.063). This one has been tested several times and couldn’t break yet. But given the amount of tests that we have been seeing here which is going to be the fourth one right now, it is very likely that we’re going to break through it in one go. And then, a new impulse wave can start.”
The trader points out that a break above 0.063 could bring YFII/BTC to as high as 0.099, marking a potential surge of 62% from its current price of 0.061.
The second on van de Poppe’s list is a smart contract platform TomoChain against Bitcoin (TOMO/BTC), which the trader says could see significant gains after a breakout.
“If it holds this block (0.000043) or starts to hold the 100-day [and] 200-day MA (moving averages), a flip and continuation is likely. Given the fact that TOMO has been testing those resistance levels (0.000051) many times now, the next test is granting us a breakout in general. Therefore, the next target zone is the area around 7,500 satoshis (0.000075).”
The third crypto asset on van de Poppe’s list is decentralized cross-chain money market Kava.io (KAVA). According to the analyst, KAVA/BTC is readying for a strong breakout as it approaches a key resistance area.
“I think we’re continuing towards the resistance zone (0.000144), flip the level around 0.000122 and then the next rally towards 23,000 satoshis (0.00023) and a new impulse wave is most likely going to happen.”
The fourth and last altcoin on the analyst’s list is Algorand. ALGO is a cryptocurrency for payments and a blockchain for decentralized finance applications. According to the strategist ALGO/BTC must hold its immediate support for a shot at launching a 69% rally.
“If Algorand sustains support above 2,300 satoshis (0.000023) and breaks through the resistance at 3,000 satoshis (0.00003), I think we can continue the momentum in general on this one, and we can start targeting the resistance zone at 3,900 satoshis (0.000039).”
