Crypto analyst Michaël van de Poppe is naming five altcoins that he expects to perform well as the digital asset market gears up for a new phase of the bull cycle.
In a new strategy session, the trader tells his 144,000 YouTube subscribers he’s keeping a close watch on Cosmos, a project dubbed as “the internet of blockchains.” Van de Poppe says he’s looking at a wide range for Cosmos against Bitcoin (ATOM/BTC) where the pair might bottom out.
“This entire region that we’ve got here [0.00045 BTC – 0.00037 BTC worth $29.19 – $24] is definitely what I’m seeking in the coming period for a potential entry point.”
The second altcoin on Van de Poppe’s radar is decentralized oracle network Chainlink. According to the crypto analyst, Chainlink is still in a downtrend against Bitcoin (LINK/BTC), but he expects the pair to ignite a rally early next year.
“We might be concluding that we’re getting to the end of this corrective period in which we might be wanting to break this one up and flip some levels before we start continuing.
Moving averages are also getting into play at this stage, which is resulting into this sideways action, but once we flip the moving averages, this is definitely one that I want to buy.”
Next up is Curve, the governance token of stablecoin-focused decentralized exchange (DEX) Curve Finance. The trader says Curve is showing some strength against Bitcoin (BTC/CRV), but the pair must take out resistance at 0.0001 BTC ($6.49) for bullish continuation.
Fourth on Van de Poppe’s list is lending and borrowing protocol Aave. The crypto strategist says AAVE/BTC is one resistance away from launching a massive rally.
“If we break through this one (0.005690 BTC worth $367.89), I’m expecting acceleration all the way towards the highs here (0.01 BTC worth $646.56), most likely towards the other side of the range. We’ve seen it happening previously.”
The last altcoin the analyst is looking at is supply chain management blockchain VeChain (VET). Van de Poppe says VeChain is still in a downtrend against Bitcoin (VET/BTC) but may see support at 0.0000015 BTC ($0.09) for a possible trend reversal.
“We’re seeing lower highs, lower lows here through which I think we want to see a retest happening at these lower bounds. You want to get a retest going in this region here before we’re going to have any expansion, but definitely, a beautiful one that is having those cycles before we start to expand into a new cycle.”
I
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
Credit: Source link
