Van de Poppe: 5 Altcoins Showing Signs of Life After Crypto Market Crash
According to Michaël van de Poppe, a widely-followed crypto analyst and trader, five altcoins are showing signs of waking up after the crypto market collapse in May.
The analyst reveals to his 350.5K Twitter followers that he’s closely following the price movement of decentralized application (DApps) platform Solana (SOL), which looks to either breach resistance at $35.00 or print a higher low (HL) at $28.00.
“I’m waiting for an entry on this one as it’s currently acting inside resistance. Not assuming it will break immediately, but definitely looking for a HL (or higher resistance flipping for support) to get triggered for a position.”
I'm waiting for an entry on this one as it's currently acting inside resistance.
Not assuming it will break immediately, but definitely looking for a HL (or higher resistance flipping for support) to get triggered for a position. pic.twitter.com/5ycw3IRfqZ
— Michaël van de Poppe (@CryptoMichNL) July 4, 2021
The second on van de Poppe’s list is Elrond (EGLD), a tool platform for developers and businesses to create infrastructure for the digital economy. According to the trader, EGLD has bottomed out in its Bitcoin pair (EGLD/BTC) and is now getting ready to test its immediate resistance at 0.0032.
“I’m expecting this one to be bottomed out after a beautiful retest of the weekly order block. The range high around 320,000 satoshis (0.0032) is critical, as that one blocks new ATHs (all-time highs). For entries -> searching for a HL around 220,000 (0.0022) sats, and then I’m in.”
— Michaël van de Poppe (@CryptoMichNL) July 4, 2021
The third crypto asset that the trader is following is The Graph (GRT), a platform that indexes and organizes blockchain data. According to van de Poppe GRT is ready for a strong surge assuming that it generates a bullish higher low setup.
“This one looks to be bottomed out too, as it made a full retrace towards the levels prior to the rally. Granting itself another HL and we could see a rally of approx. 130%, which is similar to AXS (Axie Infinity) in the past days.”
This one looks to be bottomed out too, as it made a full retrace towards the levels prior to the rally.
Granting itself another HL and we could see a rally of approx. 130%, which is similar to $AXS in the past days. pic.twitter.com/fYM8KKLYni
— Michaël van de Poppe (@CryptoMichNL) July 4, 2021
Van de Poppe’s coin number four is blockchain scaling solution Polygon (MATIC), which the trader says must overcome a key resistance area to ignite bullish momentum.
“USDT pair looks better than the $BTC pair, and it’s stuck inside a range, just like most of the markets. Critical breaker around $1.35, while support can be found between $0.90-1.00.”
Request 06 – $MATIC$USDT pair looks better than the $BTC pair, and it's stuck inside a range, just like most of the markets.
Critical breaker around $1.35, while support can be found between $0.90-1.00. pic.twitter.com/62rQZ4z0ZW
— Michaël van de Poppe (@CryptoMichNL) July 4, 2021
Fifth and the last crypto asset on the van de Poppe’s list is the public network for peer-to-peer payments Hedera Hashgraph (HBAR). The analyst expects HBAR to continue its bullish trend assuming it can hold a critical support level.
“Most likely bottomed out, just like EGLD. A retest of the block, which was the block prior to the rally. Since then, trending south, but if we hold support one more time and/or crack critical resistance -> new uptrend starts.”
