Altcoins
Renowned Cryptocurrency Expert Reveals Top 3 Altcoins Poised To Explode In February 2024
Michael Van de Poppe, a prominent cryptocurrency analyst and Bitcoin enthusiast, has shared his thoughts on the future trajectory of several altcoins in this sector. The cryptocurrency analyst’s predictions highlight crucial moments for investors looking for opportune times to buy and sell cryptocurrencies in this dynamic market.
Altcoins expected to rise in 2024
Following the approval of Bitcoin Spot ETFs, Bitcoin saw a sharp rise, surging past the $45,000 mark. During this bullish momentum, the prices of several altcoins, including Ethereum (ETH) And Solana (SOL)have also seen significant increases.
In a recent post 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 come to an end after experiencing a major decline from its 2023 peak of over $123 to $95.81 at the time of writing. His analysis suggests that Solana is about to undergo a test of longer-term support at $80 and is expected to reach new heightspotentially reaching $140.
Subsequently, the crypto analyst presented a historical performance chart of MATICSPolygon’s native token. Noting that the cryptocurrency has maintained higher timeframe support levels with established liquidity, Poppe predicts an upward move ahead despite MATIC’s recent underperformance.
He predicts that the next MATIC 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 in the last 24 hours, according to CoinMarketCap.
Bitcoin enthusiasts are also anticipating a substantial increase in the price of Chainlink’s native token, LINKThe crypto analyst revealed that the cryptocurrency has consistently held crucial price levels and is positioned for upward momentum towards $25. At the time of writing, LINK’s price stands at $14.65, which represents a 0.12% increase in the last 24 hours.
Cryptocurrencies to Underperform in 2024
In his X post, Poppe unveiled a list of altcoins that are struggling to surge and hold crucial resistance levels. The crypto analyst highlighted that Ethereum’s Recent Slow Growth negatively impacted many altcoins, forcing them to suffer further declines.
He mentioned Synthetix (SNX), which is currently depreciating mainly due to Ethereum’s poor performance. There is also Arbitrum (ARB) and Polkadot (DOT), which Poppe predicts will see significant price increases in the future.
The Bitcoin enthusiast said that if ARB could return to a price level of around $1.40 and $1.60, it could open up new entries into a more sustainable position. Subsequently, Poppe predicts a rise in Polkadot’s price to $15 despite its current price of $6.80.
The crypto analyst revealed that POINT is currently exhibiting an “excellent weekly candle” and its previous price corrections present an excellent 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 by Busha, chart from Tradingview.com