A popular analyst is researching the charts to update price targets for a number of altcoins. Let’s take a look at Michaël van de Poppe’s latest tweets, keeping in mind that estimates are not exact.
Michaël van de Poppe updates his technical forecasts for 5 altcoins
Analyst’s accurate predictions cryptocoin.comYou can take a look at this article. Van de Poppe said he is closely monitoring support levels for Cosmos (ATOM) in his latest analysis. Sharing the chart below, the analyst says that $8 is ideal for a long position:
Here at massive support levels which are reasonable for long entries. I’m looking at $8 as the next target if the current levels fade. Holding these levels = there will be a potential trigger towards $18-20 next month.
Cosmos (ATOM) is currently trading at $10.61. It has lost around 4% in value compared to the last 24 hours.
Analyst expects $80 on AAVE chart
The crypto analyst, who later went to Aave (AAVE), says that in light of the recent market-wide correction, the altcoin is trading in a narrow range with support at $80 and resistance at $103:
This shows a downward trend while the whole market is recovering. Breaking above the resistance and falling below $103 caused the correction to accelerate. We are looking for $80-82 for support. It is looking at $103 for key resistance.
Aave has been trading in the red all week. It is currently trading at $84.27, down about 5% on the day.
Van de Poppe’s altcoin list includes Elrond, which has been falling steadily since August 10
Poppe identifies two levels of support for EGLD. $50 for one and then $44 if the first one surrenders. Sharing the chart below, the analyst highlighted the following in his latest forecasts:
A significant level of support and confluence across multiple timeframes. The gap, which is almost the last one, has been filled. The arguments for a bottom around the markets could be out there. The resistance is at $57. Break there = new heights. Support: $50 and $44.
Polkadot (DOT)
Regarding Polkadot, the crypto analyst says a rally to $8.40 is possible, especially if $7.70 is reclaimed. However, Van de Poppe warns of the potential for DOT to lose support at $7:
If we claim $7.70 back, we’re looking for a trigger above that as then a retest at $8.40 is likely. Otherwise, the patience game will ensue and you need to see if below $7 is the trigger for a long time.
EOS (EOS)
The last on Van de Poppe’s radar was EOS (EOS). Poppe points out the altcoin’s midweek rally, challenging broader market trends. It also warns against sharp corrective moves and bull traps:
Looking at the structure, you should learn a lesson from this latest move by EOS. Avoid chasing the pumps! In that case, if we drop to $1.18 and then reclaim the long-term $1.30, I would look for confirmation. The same goes for reclaiming the $1.40 area.
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