Altcoins
Crypto Market Analysis: Top Altcoins Are About to Explode Soon!
Renowned crypto expert Michael van de Poppe recently shed some light on which altcoins he believes are poised for a significant rise. In his last analysisvan de Poppe explored the current state of the crypto market, primarily focusing on Bitcoin’s resistance level and its potential impact on the altcoins he is betting on.
Altcoins in the foreground
Van de Poppe’s focus on altcoins highlights their potential for outperformance in the current market. In his detailed analysis, he focuses on specific altcoins including Chainlink (LINK), Arbitrum (ARB), and Sai (SAI), delineating their market positions and upside potential.
Chainlink, in particular, stands out in van de Poppe’s analysis. He notes its long period of sideways movement, followed by a breakout, as a strong indicator of an impending uptrend. The momentum that Chainlink has gained and its behavior in the market positions it as a favorite in the expected altcoin rally. At press time, LINK is worth $14.9, having risen 3% over the past day. Michael predicts a massive rise in the price of Chainlink, possibly reaching around $25.
Focusing on the ARB, van de Poppe identifies specific entry points for investors. He predicts that a breakout above $1.06 could propel the token from $1.50 to $1.80, which would mark a substantial increase.
He notes the upward trajectory of the SAI, identifying potential entry zones around $0.30, with a bullish outlook towards a target of $0.60. These forecasts are based on current market analysis and Sai’s recent performance.
Bitcoin in the spotlight
Van de Poppe also addresses Bitcoin’s status at a crucial resistance point. It outlines potential scenarios for Bitcoin, including a possible rebound between $45,000 and $50,000, followed by a correction. This move in Bitcoin, he suggests, will have a ripple effect on the altcoin market.
The expert confidently says he believes Bitcoin will end the year at nothing less than $40,000. At press time, BTC is worth $38,005.