Altcoins
Market Expert Reveals Why Now is the Perfect Time to Invest in These 5 Altcoins — TradingView News
Renowned market expert Michael Van de Poppe recently shared his views on the current state of the cryptocurrency market, highlighting potential breakthrough opportunities for altcoins.
As the market’s largest cryptocurrency, Bitcoin (BTC), consolidates in a price range between $67,000 and $70,000, Van de Poppe’s latest market update suggests this could be the ” last time” to invest in altcoins before a possible breakout.
Altcoin Analysis
In a series of social media posts, Van de Poppe analyzes specific altcoins, including Sui (SUI), Chainlink (LINK), Floki Inu (FLOKI), Fantom (FTM), and Polkadot (DOT), offering valuable insights to investors.
One of the altcoins that caught Van de Poppe’s attention is SUI, which, according to his analysis, showed its strength in the market with a lower formation. Van de Poppe suggests that if momentum allows a breakout above $1.17, SUI could continue its uptrend towards $1.60 (currently trading at $1.067).
Chainlink (LINK) is another altcoin that Van de Poppe considers “significantly undervalued.” Drawing on historical data, he highlights that LINK has returned 150% in previous cycles, making it an attractive investment opportunity at its current price of $16,037.
However, Van de Poppe also advises exercising caution with certain altcoins. For example, FLOKI, despite its substantial increase of 1,200% since the start of its recent period, carries a “higher risk of a sharp correction.” He suggests interested investors wait for a 30-40% correction before considering an investment.
Van de Poppe also draws attention to Fantom’s native FTM token, which has been forming lower highs and lower lows. With multiple tests of the $0.60 support, a price breakout appears likely. In the event of a breakdown, it identifies two potential areas of interest between $0.4924 and $0.6113 for swing trading.
Crucial Support Levels for Ethereum
Regarding Polkadot, Van de Poppe highlights its potential as a market leader in the real-world assets (RWA) sector. He points out that Polkadot is currently undervalued and is in the process of implementing RWA within its ecosystem. Although the price does not reflect the “thriving ecosystem,” Van de Poppe expects that to change.
In addition to these lower-cap altcoins compared to larger ones, Van de Poppe provides insight into Ethereum (ETH). In a separate analysis, the market expert suggests that ETH is looking for a higher low and awaits confirmation of S-1 filing approval for the long-awaited Ethereum ETFs in the United States in the coming weeks.
Interestingly, on the Ethereum/BTC 3-day chart, Van de Poppe identifies the 0.05-0.051 BTC range as a key support area for Ethereum.
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Featured image of DALL-E, chart by TradingView.com