Legendary Analyst: Only These 2 Altcoins Will Rally in the Crash!
Bitcoin and Ethereum are down more than 25% since last week. The overall market is now trading at 2020 levels. According to legendary crypto analyst Michaël van de Poppe, strong price movements can be expected for some altcoins. Due to the increased volatility, the analyst expects a 200% price increase in several altcoin projects in the coming months.
Michaël van de Poppe expects 200% of these 2 altcoins
Michaël van de Poppe, Fetch.ai (FET) and Elrond Gold in his recent technical analysis (EGLD ) said he’s following closely. Fetch.ai is a platform that aims to bring together technologies like machine learning, artificial intelligence, and blockchain. The analyst says that FET price has bottomed in a strong support zone. This region will be critical in the coming months before breaking out of a broad range by 2023. Sharing the chart below, Poppe expects the following levels for the FET price if it finds support from this base:
Assuming we see such a scenario for the FET, I would be Interested in a long position around $0.11 for a 2-3x faster rally (which I think we’ll see in the summer).
Looking at the analyst’s chart, the FET price rose from around $0.11 to over $0.30 between July and September, then gradually fell in November 0.14 and peaked in early 2023. It seems to have reached $0.40. As a result, Poppe expects $0.40 from the 0.11 support base by early 2023.
At the time of writing, FET is trading at $0.1124, down 7% over the past 24 hours is equivalent to. With that, it reached the support level that the analyst suggested. The altcoin set its ATH price at $1.19 in September last year. It is now trading 90.45% below that level.
Next altcoin on analysts’ radar: Elrond Gold (EGLD)
Elrond Gold, designed for distributed applications, enterprise use cases and crypto -Transactions It is a blockchain platform. According to Poppe, EGLD price has identified a temporary bottom around $40. Therefore, given the current market conditions, an increase can be seen in the short term, according to the analyst. Just like FET, the analyst who calls attention to a long-standing bottom zone on the EGLD chart below shares the range in which he will take a long position:
The bullish divergence needs confirmation before calling a Long position enters position. In this case, we could be in the $40-$42 range. As you can see from the analysis of
EGLD has lost 13% in the last 24 hours. The project describes itself as a technology ecosystem for the new internet that includes fintech and the internet of things. EGLD price reached $542.58 in November last year. Since then the market has been declining. According to Poppe, if EGLD confirms current levels as lows, it could be interpreted as a short-term bull market.