Altcoins
Renowned Crypto Expert Reveals Top 3 Altcoins Set to Release in February 2024
Michael Van de Poppe, a prominent crypto analyst and Bitcoin enthusiast, shared his insights on the future trajectory of several altcoins in the space. The crypto analyst’s predictions highlight crucial moments for investors as they monitor opportune times to buy and sell cryptocurrencies in this dynamic market.
Altcoins expected to rise in 2024
Following the approval of Spot Bitcoin ETFs, Bitcoin saw a substantial rise, rallying to surpass the $45,000 price mark. During this bullish dynamic, the prices of several altcoins, including Ethereum (ETH) And Solana (SOL)also saw significant increases.
In a recent article on X (formerly Twitter), Poppe revealed top altcoins to buy or sell in 2024. The crypto analyst shared a chart showing the historical price movements and corrections from Solana, Polygon (MATIC) and Chainlink (LINK).
Poppe revealed that Solana’s consolidation phase appears to have ended after seeing a significant decline from its 2023 high of over $123 to $95.81 at the time of writing. His analysis suggests that Solana is ready for a test of support over a longer time frame at $80 and is expected to reach new heightspotentially reaching $140.
Subsequently, the crypto analyst presented a chart of historical performance of MATIC, Polygon’s native token. Noting that the cryptocurrency has maintained higher support levels with established liquidity, Poppe predicts an upcoming upward move despite MATIC’s recent underperformance.
He predicts that MATIC’s next rally could propel its price into a range between $1.25 and $1.50. Currently, MATIC price is trading at $0.789, reflecting a 2.39% decline over the past 24 hours, according to CoinMarketCap.
The Bitcoin enthusiast also expects a substantial increase in the price of Chainlink’s native token, LINK. The crypto analyst revealed that the cryptocurrency has consistently maintained crucial price levels and is positioned for upward momentum towards $25. At the time of writing, LINK’s price stands at $14.65, representing an increase of 0.12% in the last 24 hours.
Crypto Underperforming in 2024
In his X article, Poppe revealed a list of altcoins that are struggling to rise and maintain crucial resistance levels. The crypto analyst pointed out that Ethereum’s recent slow growth has had a negative impact on many altcoins, forcing them to experience further declines.
He mentioned Synthetix (SNX), which is currently depreciating mainly due to Ethereum’s lagging performance. Additionally, there are Arbitrum (ARB) and Polkadot (DOT), which Poppe believes will lead to significant price increases in the future.
The Bitcoin enthusiast said that if ARB can return to a price level around $1.40 and $1.60, it could open new entries into a more sustainable position. Subsequently, Poppe predicts Polkadot’s price rise to $15 despite its current price at $6.80.
The crypto analyst revealed that POINT is currently exhibiting a “big weekly candle,” and its previous price corrections present a great opportunity for investors in the ongoing bull market.
Total market cap at $1.57 trillion | Source: Crypto Total Market Cap on Tradingview.com
Featured image of Busha, chart from Tradingview.com