Altcoins
Analyst Michaël van de Poppe Says Big Moment is Coming for Ethereum and Predicts Rally for Altcoin Layer-1
Crypto strategist Michaël van de Poppe believes that Ethereum (ET) is close to seeing a big trend change.
Van de Poppe tells his 717,600 followers on social media platform
The SEC is expected approve, delay or deny ETH ETF applications from financial giants Hashdex and Ark 21Shares on May 30 after postponing them in March.
Van de Poppe predicts that the SEC’s decision will end up being a crucial point for the largest altcoin by market capitalization.
“This is a very likely scenario with Ethereum, where the two-week delay/denial is the big reversal moment for ETH and the markets.”
Source: Michael van de Poppe/X
Looking at the trader’s chart, he seems to predict that ETH will drop below $2,700 before reversing course and reaching $3,800.
At the time of writing, ETH is worth $2,920.
Next up is the AIOZ layer 1 crypto project (AIOZ). According to the analyst, he expects AIOZ to maintain its bullish momentum as long as it continues to trade above $0.65.
“This looks very promising and is one of the strongest trending assets.
Trend level to maintain: $0.65-0.68.
If this is lost, the region of long-term investments comes into play.
If we hold, I expect the next price might look like $1.35-1.45.
Very strong.”
Source: Michael van de Poppe/X
At the time of writing, AIOZ is trading for $0.795.
Another altcoin on traders’ list is Ethereum scaling solution Arbitrum (ARB). Van de Poppe believes the ARB is very close to reaching the bottom.
“This has a full fix and is in the final stage of fixing. A huge cascade in recent weeks, through which markets often fill that wick in subsequent weeks. In this regard, markets are close to the end of the correction.”
Source: Michael van de Poppe/X
Based on the trader’s chart, he seems to predict that the ARB will bottom around $0.90.
The latest altcoin on Van de Poppe’s radar is the native asset of the video-sharing blockchain Verasity (VRA). According to the analyst, VRA is in a real downtrend and could find support at $0.004
“A full retracement is occurring, which is relatively common for altcoins at this stage of the cycle.
An important area of support, and I think most of the pain is already there.
This support has held in the past and I expect to do the same here.”
Source: Michael van de Poppe/X
At the time of writing, VRA is worth $0.0051.
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