Michaël van de Poppe, a popular analyst and trader, explained that the leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) are heading towards all-time highs, with major rallies on the horizon for several altcoins.
In a recent strategy session, Van de Poppe told YouTube subscribers that he is watching $44,000 as a key level for BTC to surpass. The analyst also thinks that the altcoin market may be “on the verge” of a major breakout.
“If we are going to exceed 44 thousand dollars, [BTC]of [o seviyede] You don’t want to see it circulating any more. You obviously want to see it experience a significant exit.
Based on the daily time frame, we are facing resistance, but given our recent lower high, we have broken the trend and are back to a bullish perspective where we will likely continue to move upwards.
Then I think we’re going to do a new lower high again, and if we subsequently correct around $48,000 in this area, you probably want to create a new high that will be around the all-time high.”
Commenting on Ethereum, the analyst defines $ 3000 and $ 3130 as critical levels for ETH.
“When Bitcoin is going to consolidate, ETH in Bitcoin or altcoins in Bitcoin will most likely explode.
Looking at the USDT/ETH pair, we can see that it has moved above this resistance zone ($3130) and you would clearly want to see price action sustained above this area. Technically, we could also drop into the region of around $3,000, but overall you should wait to see some consolidation before resuming price action in this region.”
The crypto strategist also tells his 426,500 Twitter followers that he predicts that Solana (SOL), a well-performing altcoin, will rise thanks to BTC.
“I have already marked these levels for SOL.
Nice splash.
Another run could be possible if the price rises above $145-$150.
However, there is a critical level around $145-150.”
The analyst is also feeling quite bullish about the Chainlink (LINK), Cosmos (ATOM) and Polkadot (DOT) altcoins.
“I think we will see a lot of coins move towards $100 this quarter.”
I think we’ll be seeing some more coins going towards $100+ this quarter.#Chainlink#Cosmos#polkadot
— Michaël van de Poppe (@CryptoMichNL) October 1, 2021
“So, will there be a new altcoin season? I believe we are literally on the verge of another big bull cycle.”
Van de Poppe ends his strategy session by analyzing the Cardano (ADA) chart. The analyst points to $2.34 and $2.80 as key resistance levels for Cardano to break.
“Cardano, let’s go!”
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.