Top crypto analyst and trader Michaël van de Poppe is closely watching the price action of five “blue chip” altcoins that could be showing huge upside potential.
In a new video, Van de Poppe tells his 118,000 subscribers that interoperable blockchain Polkadot (DOT) could ignite a strong rally if it takes out a heavy resistance area.
“Once it breaks $29, it’s going to run very heavy here. When we’re looking at the USDT (Tether) chart, this resistance at $29 is very comparable to, for instance, Solana (SOL), that also cracked this level and started to overshoot, just like LUNA (Terra) did as well. Levels that I’m looking at with DOT to accumulate on are those two that we have here. So the level around $21 is one that I’m looking at. The level around $18 is the second level that I’m looking at.”
Another coin on the trader’s list is Cosmos (ATOM), a platform that aims to assist developers in building different blockchains that can transact and exchange data, creating a decentralized Internet of Blockchains. According to Van de Poppe, Cosmos is likely to restart its uptrend if it manages to hold crucial support at $16.
“When we’re looking at the USDT pair, clearly we have a few levels to watch. The first one is the retest here around $16. That would be great if we can hold that. Second, if that doesn’t grant any support, I’m going to look around $12. But given the harsh correction that we just had, most likely we’ll be getting something like this before we start to continue moving further up.”
Next up is smart contracts platform Tezos against Bitcoin (XTZ/BTC). According to Van de Poppe, the pair is putting in higher highs and higher lows and could surge over 70% to 0.00019 BTC ($8.98) if it breaches resistance of 0.00011 BTC, worth $5.19.
“We could be seeing continuation on Tezos happening here. What is the level that I’ll be looking at for the third one? That is the level that we have around [0.000087 BTC or $4.11]. So this entire block that we have here. That is where I’d be looking at if you want to scoop a position in Tezos.”
As for decentralized finance platform Synthetix, the crypto strategist predicts that it could double in value against Bitcoin (SNX/BTC) if its stays above a key level.
“But if we do have some sort of sideways structure, this entire range [0.00021 or $9.91] is where you want to be looking at, and easily, you can just target ranges that are almost 2x from here in the Bitcoin pair.”
Van de Poppe’s targets for SNX/BTC are 0.00036 BTC, worth $16.99 at time of writing, and 0.00042 BTC or $19.83.
The last coin is the decentralized oracle platform Chainlink in its Bitcoin pair (LINK/BTC). According to Van de Poppe, LINK/BTC may due for one more leg down before it can ignite an uptrend.
“This block [0.00045 BTC or $21.24 ] is where I should be getting interested. If we do lose that block, then we still have another one here which is this range around 0.00041 BTC ($19.36) that is still untested. Those two ranges are where I would be scooping in a long at this point.”
Van de Poppe adds that he believes the LINK/BTC pair could bottom out if it taps 0.00041 BTC and reclaims 0.00045 as support.
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The post Here Are Five ‘Blue Chip’ Altcoins With Big Potential, According to Crypto Trader Michaël van de Poppe appeared first on The Daily Hodl.