Crypto markets have witnessed volatile trends over the past weekend, when most of the tokens, including Bitcoin and Ethereum, were trading sideways. The global crypto market cap witnessed a 1.27% jump and a 16% increase in trading volume. This led the BTC price to climb just above $27,000, but the bearish effect continues everywhere. Meanwhile, some altcoin projects point to different price movements ahead. Top analyst Michael van de Poppe listed 4 altcoins to watch closely this week. Here are the details…
Analyst points to accumulation process for popular altcoin PEPE
The PEPE coin price has witnessed a slight increase over the past few days, increasing levels by nearly 100 percent, marking highs around $0.0000021. Despite a minor pullback, the price continues to trade around earned levels, indicating that the token is preparing for a massive price action in the coming days. The analyst also points to the flat trend, which indicates a strong accumulation phase. Van de Poppe says:
I would say PEPE has done a bear market relief rally. It needs to hold above 173000, then we can see the continuation towards 24000. If 1730000 is lost then I am considering short selling and not opening a long position till 85000.
What’s next for GRT?
The GRT token is trading under a bearish trend and is currently moving towards the next support levels after breaking its initial support. Currently, in the short time frame, the price is hovering in a very narrow range, which indicates that the price is definitely in an accumulation phase and is preparing for a breakout. The analyst uses the following statements:
Pretty simple overall. It has lost the crucial support at $0.13 that needs to be regained. If not, I will be looking at the $0.097 area for a potential long position.
Analyst cites expectations for altcoin Quant (QNT)
After a steep downtrend, QNT price is trying to hold on to one of the key support levels that could trigger a decent recovery as before. The weakness of the bulls is also revealed as the trend lowers its resistance, but the possibility of accumulating strength cannot be ruled out at the same time. Therefore, a good price action can be expected in the next few days.
Interesting price action here as we hit broad timeframe support. Am I interested? I’m not interested yet. I prefer a $112 return before activating a long position, which can run fast and fast to $175. Otherwise I’m looking at $76.
Last coin on the list: Avalanche (AVAX)
Avalanche price has been in a parabolic move since the beginning of 2023, but the recent price drop forced the price to cut the lower trendline. However, AVAX price manages to stay above important support as bulls may have entered the game. Therefore, an increase can be expected which could help the price test higher targets.
At a point of interest comparable to other altcoins. However, the trend remains bearish, if the short time frames confirm, I will open a long position here. $16.50 needs to be recovered, I will be looking at $12 for long positions.
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