A cryptocurrency analyst with a large following says Bitcoin’s recent rally may be over. However, the analyst maintains a strong rally expectation for 3 altcoins. Additionally, it is updating its outlook on an Ethereum rival.
The story is over for Bitcoin! The target for the leading altcoin is 3 thousand dollars
cryptokoin.comAs you can see from , the market has a volatile outlook as the year comes to an end. The upward moves in the leading crypto Bitcoin gave way to stagnation. Popular crypto analyst Michaël van de Poppe says the story is over for Bitcoin for now. According to the analyst, the buzz surrounding BTC created by rumors of an exchange-traded fund (ETF) approval has likely reached a limit. In this context, Van de Poppe makes the following statement:
Bitcoin likely peaks around ETF approval. Now, it will move within a range. This December and last week were a signal for the rest of the markets to strengthen. However, Ethereum is likely to reach $3,000.
At the time of writing, BTC was trading at $42,670, down 1% on a daily basis. The leading altcoin Ethereum was changing hands at $2,361, down 1.4% on its daily chart.
This altcoin has fallen behind SOL and AVAX, a move is possible now!
Michaël van de Poppe next looks at the Ethereum Layer-2 solution Polygon (MATIC). The analyst says MATIC is lagging behind other top altcoins such as Solana (SOL) and Avalanche (AVAX). For this, he predicts that he will capture an upward monentum from the altcoin price. In this regard, the analyst points to the following level:
We’re lagging behind on SOL and AVAX, but we’re starting to gain momentum. Anything in the $0.89-$0.96 region is an excellent entry into a retest. The continuation seems likely towards $1.30.
Meanwhile, MATIC is trading down 4.7% on its daily chart. However, the altcoin saw an increase of approximately 18% last week. MATIC was changing hands at $1.00 at the time of writing.
Analyst predicts boom for this altcoin: Arbitrum (ARB)
Michaël van de Poppe also reviews the ETH layer-2 scaling solution Arbitrum (ARB). The analyst predicts that MATIC rival will break out to the $2 range. Van de Poppe shares the following assessment for the altcoin:
I’ve posted some updates regarding ARB. The retest at $0.98 worked, continuing to $1.35 and even beyond. Some nice S/R (support/resistance) reversals, I think $1.40-1.45 should hold and we can continue up to $2.
Meanwhile, ARB was trading at $1.49 at press time, down 5.8% on a daily basis. However, the altcoin gained 12.6% on its weekly chart.
Analyst expects consolidation in NEAR
Michaël Van de Poppe finally takes a look at the smart contract platform Near Protocol (NEAR). The analyst expects the leading altcoin Ethereum to calm down after its rival’s recent big rise. In this regard, he comments as follows:
NEAR is on a massive rise as it rallies more than 100%. We expect a longer period of consolidation before another impulse is likely to occur. In that regard, I’m not interested until it drops to <$3.40. Also, then I look for potential entries.
Meanwhile, NEAR was trading at $3.92 at the time of writing, down 4.8% in the last day. The altcoin increased by over 18% on its weekly chart.
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