Widely followed crypto analyst Michaël van de Poppe shares what’s next for four altcoins, including Polkadot (DOT) and Near Protocol (NEAR), which have been cited as competitors to Ethereum. Here are the details…
Michael van de Poppe highlights Ethereum rival altcoin projects
Van de Poppe has 587,800 Twitter followers, a chance at a 35 percent increase of Polkadot, the interoperable blockchain He said he had to remove his immediate resistance to achieve it. For Altcoin’s chart, “Very simple chart. It needs to break $20 and then $27 appears,” he said. At the time of writing, Polkadot (DOT) is changing hands at $17.85, up 3.3 percent.
Next up is Near Protocol (NEAR), a developer-focused blockchain designed for scalability and stability. According to Van de Poppe, NEAR is forming support around $13 with resistances at $17.70 and $20. He states that he is still interested in “opening a long position” around $13. NEAR is at $14.74, up 7.1 percent at the time of writing.
What’s next for VET and GMT?
Another cryptocurrency on the trader’s list is VeChain (VET), a blockchain platform designed to help companies optimize their supply chains. Van de Poppe said he is looking at two bullish scenarios for VET. He pointed out that $0.058 could be good for upside continuation and opening a long position, while drawing attention to $0.50 as the next level of support that can be tested.
The last token on the analyst’s radar is STEPN (GMT), a lifestyle token that equips users with NFT sneakers and rewards them for strides they take in the real world. According to Van de Poppe, GMT must stay above $3.20 to avoid a heavy corrective move. “GMT looks ready to continue, but I will be after some trades in the $3.20 region. If it is lost, I think the drop could be quite heavy, so I will be targeting the $3.20 zone for long.”
7016
