Widely followed crypto analyst Michaël van de Poppe says he is closely following three altcoin projects that he believes offer upside potential.
An Ethereum scaling solution and 2 altcoins ready to rally
according to Van de Poppe In a new strategy session, Van de Poppe told 165,000 YouTube subscribers that Cosmos, the Blockchain ecosystem designed to scale and work with each other (ATOM) said it is closely monitoring the price action. According to Poppe, ATOM is trading in a wide range between $21 and $43, which he says offers a decent risk-reward ratio:
If you’re concluding that the markets will move upwards, why move so fast when it breaks out of such a range? You don’t want to go into the lower end of this range knowing that the , if we navigate this range for a longer period of time, the break will be epic and the break will be relatively large. Van de Poppe, whose analysis we share as
Kriptokoin.com, adds that breaking the $43 peak will ignite a big rally that can push ATOM up to 7 times from its current $27 price.
Polkadot (DOT) gets rid of sellers
Next up is the interoperable Blockchain Polkadot (DOT), which shows that Van de Poppe is poised for a breakout and sold out after testing resistance at $23 this year ). According to the analyst, DOT price is ready to retest a critical resistance:
we had a nice rally throughout February, another test of the lows creating the bullish divergence. What we’re doing here is another rally to $23, which is also the highest volume below here, saying all liquidity has been taken.
The last altcoin on the investor’s radar is Scale (SKL), which allows developers to build and provision decentralized chains that are fully compatible with Ethereum. According to Van de Poppe, SKL is undergoing a quick fix after a “huge move”. He also says that the Skale could reflect the price action from March 2021, where it largely corrected before starting a major rally:
As here (March 2021), we see a fairly natural correction taking place, retesting the previous resistance’s conversion to support. It will most likely happen here as well. Then, if we are to break $0.31, we get a new impulse wave that will sweep all these highs. So I’m assuming we’ll have another one to take us $0.60 to $0.70.
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