Last Chance: Market Expert Reveals Why Now Is The Perfect Time To Invest In These 5 Altcoins
June 10 2024 - 5:00PM
NEWSBTC
Renowned market expert Michael Van de Poppe has recently shared his
insights on the current state of the cryptocurrency market,
highlighting potential breakout opportunities for altcoins.
As the largest cryptocurrency on the market, Bitcoin (BTC),
consolidates in a price range between $67,000 and $70,000, Van de
Poppe’s latest market update suggests that this may be the ” final
time” to invest in altcoins before a potential breakout.
Altcoins 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 for investors. One of the altcoins that has
caught Van de Poppe’s attention is SUI, which, according to his
analysis, has shown strength in the market with a higher low
formation. Van de Poppe suggests that if momentum provides a
breakout above $1.17, SUI could continue its uptrend toward $1.60
(currently trading at $1.067). Chainlink (LINK) is another altcoin
Van de Poppe considers “heavily undervalued.” Drawing on historical
data, he points out that LINK has delivered a 150% return in
previous cycles, making it an attractive investment opportunity at
its current trading price of $16.037. Related Reading: Shiba Inu
Price Could Skyrocket By 1,100%, Predicts Analyst However, Van de
Poppe also advises caution with certain altcoins. For instance,
FLOKI, despite its substantial 1200% increase since the beginning
of its recent run, carries a “higher risk of a heavy correction.”
He suggests that interested investors wait for a 30-40% correction
before considering an investment. Van de Poppe also draws attention
to Fantom’s native token FTM, which has been forming lower highs
and lower lows. With multiple tests of the $0.60 support, a price
breakdown seems likely. If a breakdown occurs, he 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 Asset (RWA) sector. He emphasizes that Polkadot
is currently undervalued and is in the process of implementing RWA
within its ecosystem. Despite the price not reflecting the
“thriving ecosystem,” Van de Poppe expects this will change.
Related Reading: Solana Searching For Direction: Will SOL Break
Free Or Fall Flat? In addition to these lower-cap altcoins compared
to the largest, 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 expects confirmation of S-1 filing
approval for the long-awaited Ethereum ETFs in the US in the coming
weeks. Interestingly, on the 3-day Ethereum/BTC chart, Van de Poppe
identifies the 0.05-0.051 BTC range as a key support area for
Ethereum. Featured image from DALL-E, chart from TradingView.com
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024