A popular Twitter analyst says Cardano and 5 altcoins are gearing up for more rallies. Let’s take a look at Michal van de Poppe’s current technical analysis, keeping in mind that the predictions are not precise.
“Cardano, Chainlink and these altcoin projects are in an uptrend”
Michal van de Poppe predicts long-term upside trends for a select group of altcoins, including Cardano and Chainlink. Twitter analyst with 621,500 followers says Cardano price is ready for a new rise:
He is looking for progress as he repeatedly tests the resistance zone. A break of $0.55 will start the move towards $0.67 which will also provide a trigger for a long entry.
ADA is currently trading at $0.50, up 5.35% from yesterday. The momentum expected by Poppe started with the US CPI data announced today.
Analyst then takes a look at Chainlink
Van de Poppe predicts LINK will recover to around $8 before making a fresh start. His tweets during the day noted the following for LINK:
LINK is on the rise. $8 suggests a trend reversal. This could make it reach $12-12.50. There are still deals of a lifetime with current prices. Thus, $13.50 to $15.00 would be a medium-term target. The range to keep is $7.50-8.00.
LINK is currently trading above $9, up 9% from the last 24 hours.
Michal van de Poppe awaits rally in these 4 altcoin projects
Phantom (FTM)
Phantom was another altcoin on Poppe’s radar. Van de Poppe says FTM could break out if it stays above a critical support level:
FTM is looking good and bullish. I’m still holding long positions, trading in between… If $0.34 continues, I see growth between $0.45 and $0.50.
FTM is currently trading at $0.4073, up about 15% from the previous day.
Quant (QNT)
Quant is a Blockchain technology that aims to make it possible for various Blockchains to communicate seamlessly. QNT is in a strong uptrend and will see a correction to $110, according to Van de Poppe. In the following tweet on August 8, the analyst noted:
His perseverance is admirable… The resistance is around $140. $110 possible long entry area.
Request 01 – $QNT
Showing strength, and that's good. Previously I've shared this one and concluded;
▫️ $110 is resistance, retest at $80 seems possible.
Now;
▫️ $140 area is resistance, $110 area potential long entries.
▫️ Strong uptrend until proven otherwise. pic.twitter.com/SJznzOzt7L— Michaël van de Poppe (@CryptoMichNL) August 8, 2022
QNT is currently stagnant and sideways relative to the overall market. It has gained only 2% in value compared to the last 24 hours. The gold and crypto money markets have taken action due to the CPI data from the USA, which you follow from Kriptokoin.com. Poppe interprets the current market as follows:
Bitcoin corrected further by anticipating the CPI event and running ahead (or at least, investors are basing their decisions on a possible CPI outcome today). Also, altcoins continue their run, BNB is acting very strong.
#Bitcoin corrected more, anticipating and front-running the CPI event (or at least investors are basing their decisions on a possible outcome of CPI today).
Further, #altcoins continuing their run, $BNB acting very strong.#Bitcoin has to:
▫️ Break $23.2-23.3K
▫️ Target $23.8K pic.twitter.com/vzuJKsy2ps— Michaël van de Poppe (@CryptoMichNL) August 10, 2022
Zilliqa (ZIL)
The last altcoin on Poppe’s radar was Zilliqa. According to the analyst, the price of ZIL has been consolidating for a long time. Poppe says the following about ZIL in the technical part:
I’m patiently waiting for another move here. It is currently just consolidating and going sideways, above which a breakout and acceleration will most likely occur as soon as it breaks above $0.049.
Request 05 – $ZIL
Patiently waiting for another move here. Currently just consolidating and going sideways, through which a breakout and acceleration will most likely occur the moment it jumps above $0.049. pic.twitter.com/W38CNw84N1
— Michaël van de Poppe (@CryptoMichNL) August 9, 2022
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