These 3 Altcoins Might Soon Become Up, According to Analyst
Prominent cryptocurrency analyst Michaël van de Poppe said he has his eye on three altcoins that he believes offer huge upside potential.
In a new image, Van de Poppe said that Cosmos (ATOM) closely follows the price action. According to Van de Poppe, ATOM sees a wide range in the mid-$21 to $43 range, saying it offers a decent risk-reward ratio.
“If you are concluding that the markets will move without the upper error, why don’t you want to enter the lower end of this range knowing that when it goes out of such a range it starts to move pretty fast… In that case, if we hover in this range for a longer period of time, The break will be epic and the break will be relatively big.”
Van de Poppe says a breach of the $43 high range will ignite a massive rally that could push ATOM up to 7x from its current price of $27.30.
Next up is Polkadot (DOT), which Van de Poppe says is poised for a breakout after testing the $23 resistance this year.
“We had a nice rally throughout February, another test of the lows creating this bullish divergence. What we’re doing here is another rally sweeping this high ($23), which is also the highest volume below here, saying all liquidity has been taken.”
Crypto strategist also notes that DOT is down more than 64% from its all-time high of $55.
The last cryptocurrency on the investor’s radar is Skale (SKL).
According to Van de Poppe, SKL is undergoing a rapid correction after a “huge move”. He also said that Skale could reflect the price action of March 2021, which he largely corrected before launching a major rally.
“As here (March 2021), we’re seeing a fairly natural correction taking place, testing the previous resistance’s turn into a foothold again, which is likely to happen here as well. Subsequently, if we are to break $0.31, we get a new wave of impulses where we will sweep all these highs. So I assume we’re going to get another one that will get us $0.60 to $0.70.”
