Popular crypto analyst and trader Michaël van de Poppe is mapping out what’s next for Ethereum and four low-cap crypto assets.
In a new strategy session, Van de Poppe tells his 109,000 YouTube subscribers that he’s looking at a potential bullish scenario for Ethereum (ETH) as it threatens to take out resistance at $2,300.
“We can conclude that we’ve got a double bottom, and we’ve got a range low. Next to that, what you want to see, and especially if Bitcoin is going to make a corrective move, is that Ethereum is going to test the level around $2,000 and sustain there for support. That would grant a new higher low. That would grant some more strength.”
Should Ethereum break above $2,300, Van de Poppe expects the leading smart contract platform to flip the resistance into support and sustain its uptrend.
Van de Poppe is also keeping a close watch on supply chain management protocol VeChain against Bitcoin (VET/BTC). According to the crypto analyst, VET is on track to hit 0.0000027 BTC, worth about $0.11 at time of writing.
“Still following the path on Vechain.
I’d like to see it hold green but also crack above 220 sats ($0.08) to trigger continuation to 270 sats (0.0000027 BTC).”
Another coin on the trader’s watchlist is interoperable blockchain technology Quant. According to Van de Poppe, Quant is flashing bullish signals against Bitcoin (QNT/BTC), and he expects the pair to rally as long as it holds support at 0.0022 BTC, worth about $87.72.
“Very bullish chart and a nice continuation of the trend here. I’d like to see 220K sats (0.0022 BTC) hold for support. If that happens, then probably continuation can happen to 390K sats (0.0039 BTC or $155).”
Next up is decentralized cross-chain money market Kava in its Bitcoin pair (KAVA/BTC). According to Van de Poppe, KAVA/BTC is gearing up to breach resistance at 0.000144 BTC ($5.42) and target the next resistance zone at 0.00023 BTC ($9.13), representing an upside potential of nearly 60%.
“Yes, KAVA is doing great.”
The last coin is SXP, the native digital currency of payments platform Swipe. Van de Poppe says that he expects SXP to pull off a 57% move to the upside after breaching resistance at $1.65.
“Swipe breaking upwards, after a beautiful bounce from a heavy support zone. Flipping the red area and continuation is likely to $2.25 and $2.60.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/FlashMovie