Michaël van de Poppe, one of the famous names in the crypto world, shared his views on three closely followed altcoins of the crypto world and discussed their future after the last market correction.
Van de Poppe, Polygon (MATIC) He started his analysis with Ethereum (ETH) scaling solution, saying it could potentially reach a new high of $2.7.
“…We continue to see higher lows overall. So we’re ramping up the pressure and it’s an all-time high [2.62 dolar] We are on our way to a new break.
We are currently heading towards an area that is the last point of resistance and if you are looking for potential entries, around $1.8 could be the ‘green zone’ for you right now. We can still stay in an uptrend before an upside break.
If this green zone is eclipsed, $2.7 levels are possible.”
Polygon currently swings between 0.00002170 BTC ($1.23) to 0.00003500 BTC ($1.98). According to the analyst, Polygon could potentially break out of the range and “start accelerating up” and capture 0.00005200 BTC ($2.94).
Next up is altcoin, blockchain platform Harmony (ONE) it happened. Van de Poppe noted that potential short-term buying opportunities exist around the 0.00000417 BTC ($0.24) and 0.00000344 BTC ($0.19) support levels.
“This is an area where I want to look for potential long entries [0.00000417 BTC]. If this disappears, in this region [0.00000344 BTC] I’m looking for a long introduction.”
Van de Poppe says Harmony is in a bearish trend and will aim for a profit between 0.00000090 BTC ($0.005) and 0.00000500 BTC ($0.28).
“…definitely just looking for the potential for a bounce around 0.00000090 BTC to 0.00000500 BTC as we will most likely make a lower peak and continue the downtrend.”
Van de Poppe noted that key support levels for Harmony lie between $0.21 and $0.23. The crypto analyst warns that Harmony is in a bearish trend and could drop to $0.17.
“I think the only important support you need to look at is this entire green zone, which is the low range. [0,21 ile 0,23 dolar arasında]. So, diving in here, I think you still want to look for potential talls.
However, there is already a lower high here, so potentially the trend is down. And if the trend is down, I will also look at the $0.17 area.”
The last altcoin on the list is the supply chain blockchain. VeChain (VET) it happened. Van de Poppe states that if the altcoin prints lower on the charts, a potential buying opportunity for VeChain is around 0.00000210 BTC ($0.12). A higher low usually indicates an uptrend in technical analysis.
Van de Poppe added that VeChain is holding the $0.11 support level but will wait for Bitcoin (BTC) price action to determine the direction of altcoins.
“As far as USDT vs. VeChain is concerned, we are back to support at this stage but still waiting for confirmation from Bitcoin.
If this will confirm that the market is ready to move on, then it is when altcoins start to explode. And at the moment I am not yet convinced about Bitcoin.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.