Popular cryptocurrency analyst Michaël van de Poppe says he has his eye on three altcoins that he believes offer huge upside potential.
In a new video, Van de Poppe said that he closely follows the price action of Cosmos (ATOM). According to Van de Poppe, ATOM is trading in a wide range between $21 and $43, which he says offers a favorable risk-to-reward ratio.
“If you’re concluding that the markets are going to move up, why don’t you want to enter the lower end of this range knowing that it starts to move pretty quickly when it goes out of such a range… In that case, if we hover in this range for a longer period of time, the breakout It will be epic and the break will be relatively big.”
Van de Poppe says a breach of the $43 high range will ignite a massive rally that could push ATOM up to 7x from its current price of $27.30.
Next up is Polkadot (DOT), which Van de Poppe says is poised for a breakout after testing the $23 resistance this year.
“We had a nice rally during February, another test of the lows creating the bullish divergence. What we’re doing here is another rally sweeping this high ($23), which is also the highest volume below here, saying all liquidity has been taken.”
The crypto strategist also notes that the DOT is down over 64% from its all-time high of $55.
The last cryptocurrency on the investor’s radar is Skale (SKL).
According to Van de Poppe, SKL is undergoing a rapid correction after a “huge move”. He also said that Skale could reflect the price action of March 2021, which he largely corrected before starting a major rally.
“As here (March 2021), we see a fairly natural correction taking place, a retest of the previous resistance turning into support, which will 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 assume we’re going to get another one that will get us $0.60 to $0.70.”
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