Popular crypto analyst and trader Michaël van de Poppe has shared what he thinks next for altcoins like ADA, SXP, AVAX, ATOM, ONE, LINK, RSR in his latest YouTube video.
ADA, SXP, AVAX: Crypto Market Update
In his latest YouTube upload released on May 31, notable crypto analyst Michaël van de Poppe started his video saying Cardano (ADA) has the potential to surge to $5 next.
According to him, the next target for ADA is in the $3.35 level, before a potential surge to $5.
Request 02 – #Cardano
This one is actually one of the strongest performers in the market.
Hard drop, after which a strong bounce occurred.
Since then, beautiful HL constructed and further consolidation, before continuation expected.$BTC pair doing fine too. pic.twitter.com/wbQErmP1tl
— Michaël van de Poppe (@CryptoMichNL) May 30, 2021
The next altcoin that Van de Poppe has got his eye on is SXP, the native token on crypto wallet Swipe.
According to him, a bullish breakout could be established once SXP breaks above the 100-day moving average (MA) against Bitcoin (SXP/BTC).
Unlike other cryptocurrencies, Swipe isn’t just a protocol powered by a distributed network but is both a software and a digital wallet ecosystem designed to allow users to buy and spend fiat money and cryptocurrencies at physical and digital locations.
Request 01 – #Swipe
This one is consolidating between the MA’s here, through which a bullish trigger can be formed if it breaks back above the 100-Day MA.
New impulse wave trigger if accumulation resistance breaks. pic.twitter.com/YpRRjimYIW
— Michaël van de Poppe (@CryptoMichNL) May 30, 2021
The next altcoin on Van de Poppe’s list is the smart contract platform Avalanche against Bitcoin (AVAX/BTC). He notes that the trading pairs did “get crushed” compared to other altcoins during the recent crypto market wipeout.
If AVAX/BTC can break above the 0.00061 area, which is about a 22% move from its current value of 0.00049 he says the coin can continue its bullish momentum.
Avalanche is a decentralized smart contract framework intended to be a massively scalable ecosystem to provide speedier transactions while charging fractions of a cent in transaction fees.
Request 03 – $AVAX / #Avalanche
This one got crushed, like many of the #altcoins.
On support right now, which is crucial to sustaining.
On the upside, the area around 61000 sats is the critical breaker for further bullish momentum. pic.twitter.com/jD64DlYD9x
— Michaël van de Poppe (@CryptoMichNL) May 30, 2021
ATOM, ONE, LINK, RSR: Crypto Market Update
The trader next comments on interoperable blockchain protocol Cosmos (ATOM) saying the native asset might continue its bullish momentum against Bitcoin once it breaks the 200-day moving average, currently around 0.0004.
Cosmos is a network of blockchain networks that allows separate blockchains to communicate with each other in a seamless manner.
This one is consolidating in a range here, through which it’s also acting between the crucial MA’s.
If a break above the 200-Day MA happens, I’m assuming continuation is likely.
Green zones are critical to hold. pic.twitter.com/UwrCqqhvwX
— Michaël van de Poppe (@CryptoMichNL) May 30, 2021
He also goes on to say that ONE, the native token on Harmony has the potential to surge to new highs if ONE/BTC can hold the critical level of 200 satoshis or 0.000002.
Harmony positions itself as a fast and secured platform for decentralized applications as designed to solve crucial problems in Ethereum like high fees, slow transaction speeds, and scalability issues.
This one is still in a bullish cycle, as it’s done a beautiful retest at the green zone.
And, next to that, making higher lows, still.
Green area critical to hold. If that holds -> bullish continuation. pic.twitter.com/pUuEIil2tU
— Michaël van de Poppe (@CryptoMichNL) May 30, 2021
In terms of Chainlink (LINK/BTC) trading pairs, the analyst notes that LINK against BTC did manage to climb above the crucial moving averages and if it manages to hold could potentially rally by over 42% from its current price of 0.00083 to 0.00118.
Chainlink is a decentralized oracle network and cryptocurrency that provides real-world data to blockchains.
Request 06 – #Chainlink / $LINK
Dropped below the 100-Day & 200-Day MA.
Bounced back immediately, now back above.
Holding those and I’m expecting bullish continuation to occur on this one.
Doesn’t look bad. pic.twitter.com/b7teMv9EQg
— Michaël van de Poppe (@CryptoMichNL) May 31, 2021
Lastly, Van de Poppe’s analyses on RSR, the native token on stablecoin platform Reserve Rights. According to him, RSR/BTC could go for a 70% rally from 0.00000088 to 0.0000015 to test the next major resistance area.
The Reserve Right Token is the governance and utility token for Reserve, a stable coin designed on the Ethereum network.
Request 07 – $RSR / #ReserveRights
This one shows the same as $AVAX and $ATOM.
Heavy breakdown, through which a range is getting constructed.
Green area is critical to hold. If that holds, new tests at red seem likely. pic.twitter.com/ySLoCGXSe8
— Michaël van de Poppe (@CryptoMichNL) May 31, 2021
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Source: https://www.cryptoknowmics.com/news/ada-sxp-avax-atom-one-link-rsr-crypto-market-update