Senior Analyst Says These Altcoins Will Make a Move Soon
With the crypto market trading sideways for the most part, trader and analyst Michaël van de Poppe told his 685k Twitter followers which altcoins could be leading altcoin season soon. The CEO of MN Trading and self-proclaimed ‘portfolio maxi’ has an optimistic outlook, and expects a significant increase in the value of altcoins as a collective market.
Pick number one: BRN Metaverse (BRN)
As seen in the chart below, van de Poppe identified USD $0.39 (AUD $0.59) as a key potential support level for BRN. This implies that during a market downturn or correction, USD $0.39 could act as a floor below which the price of BRN might not easily fall, due to increased buying interest at this level. His analysis suggests a degree of optimism, even if the price were to fall as low as USD $0.28 (AUD $0.42). This sentiment indicates that $0.28 might be seen as another significant support level, perhaps one where the price has rebounded in the past or a level of considerable trading activity.
Finally, the trajectory proposed indicates a bullish outlook, with an anticipated upward movement towards USD $0.90 (AUD $1.36).
Pick two: Cosmos (ATOM)
Van de Poppe believes that for a bullish trend for ATOM to be confirmed, the price of ATOM needs to maintain a level above USD $8-9 (AUD $12-13). This level is likely seen as a key support zone, which is a price level where an asset tends to find strong buying interest, preventing the price from falling further. If ATOM successfully holds above this price range, it’s believed that there’s a higher likelihood of breaking past previous high price points.
Once these previous highs are surpassed, the prediction is that ATOM could experience a significant rally, potentially reaching up to USD $25 (AUD $37). This kind of price movement would represent a substantial increase from the stated support level of USD $8-9, indicating strong market optimism and buying momentum for ATOM.
Pick number three: Chainlink (LINK)
Van de Poppe expects that LINK will continue its upward trajectory, moving towards a critical resistance level. However, the anticipation here is not just a reach to this resistance level but a breakthrough, indicating a strong bullish momentum.
If LINK successfully breaks through this resistance, it could signal a breakout and potentially initiate a new bullish phase for the decentralised oracle network. This breakout might also positively influence the broader decentralised finance (DeFi) sector, suggesting a possible ‘renewed summer of DeFi’ – a period characterised by heightened activity and growth in DeFi projects and investments.