Altcoin
A market expert reveals why now is the perfect time to invest in these 5 Altcoins
Renowned market expert Michael Van de Poppe recently shared his views on the current state of the cryptocurrency market, highlighting potential breakout opportunities for altcoins.
Being the largest cryptocurrency on the market, Bitcoin (BTC), consolidates in a price range between $67,000 and $70,000, Van de Poppe’s latest market update suggests this could be the “last time” to invest in altcoins before a potential breakout.
Altcoin Analysis
In a variety of social media postVan de Poppe analyzes specific altcoins, including Sui (SUI), Chainlink (LINK), Floki Inu (FLOKI), Fantom (FTM), and Polkadot (DOT), offering valuable insights for investors.
One of the altcoins that caught Van de Poppe’s attention is SUI, which, according to his analysis, has shown strength in the market with a higher lower training. Van de Poppe suggests that if momentum provides a breakout above $1.17, SUI could continue its uptrend towards $1.60 (currently trading at $1.067).
Chainlink (LINK) is another altcoin that Van de Poppe considers “heavily undervalued.” Based on historical data, he points out that LINK has delivered a 150% return in previous cycles, making it an attractive investment opportunity at its current trading price of $16,037.
However, Van de Poppe also advises caution with some altcoins. For example, FLOKI, despite its substantial 1200% increase since the start of its recent run, carries a “major risk of a heavy correction.” He suggests interested investors wait for a 30-40% correction before considering an investment.
Van de Poppe also draws attention to Fantom’s native FTM token, which has formed lower highs and lower minimums. With multiple tests of the $0.60 support, a price collapse seems likely. In case of a breakdown, identify two potential areas of interest between $0.4924 and $0.6113 for swing trading.
Crucial Support Levels for Ethereum
As for Polkadot, Van de Poppe highlights its potential as a market leader in Real world resource sector (RWA). He points out that Polkadot is currently undervalued and is implementing RWA within its ecosystem. Although the price does not reflect the “thriving ecosystem”, Van de Poppe predicts that this will change.
In addition to these smaller-cap altcoins than larger ones, Van de Poppe provides intuition in Ethereum (ETH). In a separate analysis, the market expert suggests that ETH is seeking a higher low and expects confirmation of S-1 application approval for the long-awaited Ethereum ETFs in the United States in the coming weeks.
Interestingly, the 3 days Ethereum/BTC On the chart, Van de Poppe identifies the 0.05-0.051 BTC range as a key support area for Ethereum.
Featured image from DALL-E, chart from TradingView.com