Van de Poppe: One Altcoin to Rally 250%, Draws Key Levels for Five Coins
According to Michaël van de Poppe, a widely-followed crypto analyst and trader, one low-cap altcoin has potential to rally over 250% while the rest of the crypto market remain bearish.
The analyst shares with his 354K Twitter followers that he’s keeping a close eye on Fetch.ai, a decentralized machine learning network, against Bitcoin (FET/BTC).
FET/BTC pair is currently holding support and looks ready for a massive rally, says the trader.
Reading the trader’s chart, it seems that FET/BTC is printing higher highs and higher lows which could be the signals that trigger a rally toward resistances at 0.000014 BTC, worth about $0.41 at time of writing, and 0.000055 BTC, or roughly $1.62.
Another crypto asset the van de Poppe is following is the blockchain-based game Axie Infinity. He notes that Axie Infinity’s token AXS is hanging on its immediate support against Bitcoin (AXS/BTC) at 0.0005 BTC, worth $14.84. If that is lost, the next support level, which stands at 0.0004 ($11.88), says the trader.
The third coin on the list is blockchain scaling solution Polygon (MATIC), which could bounce at $0.43 given that the altcoin breached the key price area of $0.73, says van de Poppe. At time of writing, Polygon is trading at $0.68, according to CoinMarketCap.
“This one is at support here too, but the trend is obviously down. The first level of support for a potential bounce. That’s currently. Resistance: $1. Next level of support: around $0.43.”
Next on the analyst’s watchlist is the supply chain management protocol VeChain against Bitcoin (VET/BTC). VET/BTC is likely headed to 0.00000155, worth about $0.04, after failing to reclaim a critical level, according to van de Poppe.
“Currently in the next area of support after rejecting 270 sats ($0.08). Would like to see a reclaim of 220 sats ($0.65). If that doesn’t happen, then I’m focused at 155 sats for potential entries.”
Peer-to-peer payments platform Litecoin (LTC) is next on the watchlist. The analyst predicts that LTC is ready for a bounce toward $280 as long as it holds support above $100.
” [At] critical support right now and barely hanging in there.”
The last crypto asset on the list is the automated market maker SushiSwap against Bitcoin (SUSHI/BTC). Van de Poppe says that the pair could spark a 66% rally, if it manages to stay above support at 0.00021 BTC or $6.22.
“This one might have bottomed out here. A double bottom retest of higher timeframe order block granting support. If this one holds around [0.00021 BTC], it potentially could run to [0.00031 BTC] ($9.19) from here.”
