Popular crypto strategist Michaël van de Poppe said he expects volatility for some altcoin projects. Here are the details…
Michael van de Poppe shares his prospects for popular altcoin projects
Van de Poppe told his 616,600 Twitter followers that BNB, the cryptocurrency that powers Binance and smart contract platform BNB Chain, gained strength after breaking the $240 resistance. The analyst mentioned that BNB is holding the region around $216 again. It pointed at $240 as a resistance and if this level is broken, a rise can be seen towards $270.
At the time of writing, Binance Coin is changing hands for $249, up over 5 percent on the day. The next altcoin on the analyst’s list is Ethereum (ETH) scaling solution Polygon. According to Van de Poppe, MATIC also shows strength. A move above its immediate resistance should trigger a 38 percent increase from its current price. He argues that a break above $0.73 signals the next target of $1.
Rally prospect for THORChain
Another altcoin on Van de Poppe’s list is the decentralized exchange protocol THORChain, which he says is poised for a big rally. The analyst uses the following statements for THORChain:
It looks ready to continue but at this point it should flip $2.50. If it does, I assume we’ll see $3.30-3.50.
At the time of writing, THORChain is at $2.23. A move towards Van de Poppe’s target points to an upside potential of over 56 percent. The last coin on the investor’s radar is the smart contract platform Phantom. Van de Poppe said it could be due to a slight pullback to $0.24 before FTM starts its next leg. There are two trigger levels targeting $0.34. Therefore, it is thought that tests at lower levels may be seen.
