Analyst Michael van de Poppe, known for his analysis in the cryptocurrency market, shared his thoughts on gold and 5 altcoins in his recent posts. He supported the target levels with graphics as well. Here are the details…
Michael van de Poppe commented on the gold price
It is quite rare to see Van de Poppe, who is known for his crypto analysis, doing gold analysis. However, recent price movements seem to have pushed the expert towards it. As we have also reported as Kriptokoin.com, gold prices have risen to levels not seen since 2020, above $ 2,000. Even though the weekend was a bit withdrawn, the fact that it broke the record of 2 years excited people. Behind this price action is Russia’s attempt to invade Ukraine and people clinging to gold as a safe haven in this uncertain environment.
Van de Poppe agrees with analysts who think a correction will follow gold’s rally . “As last time, I want gold to hold above $1,900 to avoid further heavy corrections,” the expert says. That is, it hints that a tougher correction could occur if $1,900 is lost for gold.
What is the analyst’s analysis of altcoins?
Apart from gold, Van de Poppe briefly commented on 5 altcoins, again on his Twitter account. He first noted that Zilliqa (ZIL) is down as much as 85 percent from high price levels and retests resistance levels from the previous cycle for support. Secondly, the expert, who states that Polygon (MATIC) may see a heavy correction, states that if the altcoin sees the $ 1 levels, it may be interested.
On the other hand, he thinks Terra (LUNA) “must be taken slowly”. He underlined that there is a nice rise in the current situation, but the correction was made immediately due to the record breaking liquidity. Stating that some downward momentum can be sought due to liquidity, the expert said that he could be interested in altcoins around $ 70. He pointed out that Verasity (VRA) is looking for heavy support levels while falling 80 percent, while Phantom (FTM) is observing lower levels. In general, he says, most altcoins have dropped, providing “investment opportunities” for those who wish.
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