Widely followed analyst Michael van de Poppe has revealed his latest altcoin predictions. The analyst explained the cryptocurrencies that he expects to bounce. Here are the details…
Michael van de Poppe is optimistic about these altcoin projects
Michaël van de Poppe told his 623,400 Twitter followers that Avalanche and many other altcoins fell below their 50-day moving averages due to last week’s price correction. The trader says that if the tokens can retrace this moving average, it will trigger a “serious” price rally. The analyst uses the following statements for AVAX:
Rolling back the [50-day moving average] will trigger some serious activations. The same goes for AVAX.
Van de Poppe also says that Ethereum (ETH) rival Phantom (FTM) is currently consolidated. He also states that he is waiting to see if the US dollar reverses the bullish trend. The analyst uses the following statements:
Daily order levels around $0.25 are heavy support. If a reversal occurs, a quick run to $0.365-0.37 is possible.
What’s next for Bitcoin?
On the other hand, the analyst also made statements about the leading cryptocurrency BTC. He states that Bitcoin’s recent price stability could signal strength. “Well, it’s good for Bitcoin to hold steady while the rest drops heavily. “If the euro reverses and stocks mean a bounce, Bitcoin could have some good strength,” he said. Bitcoin (BTC) is trading at $21,532, up 0.33 percent in the last 24 hours at the time of writing.
Currently, Bitcoin price has formed a bottom above the $21,000 zone. BTC started a recovery wave and climbed above the $21,500 region. Currently, the cryptocurrency is consolidating. It is facing a strong resistance near the $22,000 zone. After a steady move, BTC price managed to surpass the $21,500 resistance zone. BTC even climbed above the $21,650 resistance. However, the bulls struggled to gain strength and the price settled well below the $22,000 resistance zone.
Similarly, most major altcoins are struggling to gain bullish momentum. ETH rallied but struggled near the $1,720 resistance area. XRP is facing a hurdle near the $0.35 resistance.
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