Michael van de Poppe, a crypto analyst, has identified five altcoins that he believes will perform well as the digital asset market enters a new phase of the bull cycle.
The trader tells his 144,000 YouTube subscribers in a new strategy session that he’s keeping a close eye on Cosmos, a project dubbed “the internet of blockchains.” Van de Poppe believes Cosmos will trade in a wide range against Bitcoin (ATOM/BTC), with the pair possibly bottoming out.
“This entire region that we have here [0.00045 BTC – 0.00037 BTC worth $29.19 – $24] is definitely what I’m looking for as a potential entry point in the coming period.”
Chainlink, a decentralized oracle network, is the second altcoin on Van de Poppe’s radar. According to the crypto analyst, Chainlink is still in a downtrend against Bitcoin (LINK/BTC), but he anticipates that the pair will begin to rally early next year.
“We might be coming to the conclusion that we’re nearing the end of this corrective period, and we might want to break this one up and flip some levels before we continue.”
Moving averages are also coming into play at this point, resulting in this sideways action, but once the moving averages are flipped, this is definitely one I want to buy.”
Curve is the governance token of Curve Finance, a stablecoin-focused decentralized exchange (DEX). According to the trader, Curve is showing some strength against Bitcoin (BTC/CRV), but the pair must break through resistance at 0.0001 BTC ($6.49) before the bullish trend can continue.
Aave, the lending and borrowing protocol, is ranked fourth on Van de Poppe’s list. According to the crypto strategist, AAVE/BTC is just one resistance away from launching a massive rally.
“If we break through this one (0.005690 BTC worth $367.89), I expect acceleration all the way to the highs here (0.01 BTC worth $646.56), most likely on the opposite side of the range.” We’ve seen it happen before.”
VeChain, a supply chain management blockchain, is the last altcoin the analyst is looking at (VET). According to Van de Poppe, VeChain is still in a downtrend against Bitcoin (VET/BTC), but it may find support at 0.0000015 BTC ($0.09) for a trend reversal.
“We’re seeing lower highs and lower lows here, and I believe we’ll see a retest at these lower bounds.” You want to get a retest going in this region here before we start expanding, but it has to be a beautiful one with those cycles before we start expanding into a new cycle.”