A popular cryptocurrency trader watches possible price increases for two altcoins as the markets enter summer. He also gives his comments for Bitcoin, the biggest cryptocurrency. Here are the details…
Michael van de Poppe expects rise in Bitcoin
Crypto strategist Michaël van de Poppe has 608,100 Twitter followers, that the latest Bitcoin (BTC) is a He said that a rebound from the price drop could mean that both BTC and altcoin projects are ready to run this month. The analyst used the following statements:
As Bitcoin regains all this movement, the probability of a relief rally this month increases. Altcoins on the daily timeframe are also starting to look better. This could be a 50-100 percent charity rally for them. Be prepared.
Looking specifically at Bitcoin, Van de Poppe identifies $30,400 as an ideal support level and adds that if the line is defended successfully, BTC can rise up to $35,000. The analyst says the following:
Bitcoin is back to resistance and circulating like crazy. I would like to see a hold of $30,400 as support. If that amount eventually holds up, I’m assuming we’ll see $32,800 and potentially $35,000.
Analyst drew attention to these altcoin projects
Next on the investor’s list, the decentralized oracle network Chainlink (LINK). He thinks the altcoin’s strength at $7.25 means that what was once seen as resistance (R) can now turn into a support level (S). “Well, $7.25 was indeed holding for LINK and now it continues its momentum towards $9 and has reached this level,” he said. “It’s a good S/R flip game,” he said.
The last crypto asset on the investor’s radar is the native token of the non-fungiable token (NFT) marketplace XAcademy Network (XCAD). Van de Poppe said that XCAD looks strong and talked about the project’s highly anticipated mainnet event on June 16. XCAD is showing strength as it moves towards $5 and a crucial breaking point. “If we break $4.80-5, then $6 and $8 are on the horizon + big event coming on the 16th for XCAD,” the expert says.
The Fool analyst expects a rise in 2 altcoins
On the other hand, analyst of investment company The Fool, Michael Byrne, said: He shared two altcoins that he expects some price action this month. The first coin that the analyst drew attention to was Cardano (ADA). The analyst drew attention to the sharp increase in the total value locked in the Cardano network. He also stated that there was an increase in transaction volume due to the rise in applications on the network. He states that Cardano is gaining momentum thanks to the shot in activity, low transaction fees and increased transaction speed. Also, drawing attention to the importance of the Cardano-Ethereum bridge, the analyst believes that this situation attracts more users to the network. For this reason, he thinks that crypto money should be watched.
The other coin, which the analyst expects to rise, was Solana (SOL). According to the analyst, the launch of STEPN (GMT), a project gaining momentum in the Solana ecosystem, was a development that boosted activity in Solana. On the other hand, he advises that this coin should be on the radar, noting that NFT sales on the Solana network are also gaining momentum.
