Popular crypto analyst and trader Michaël van de Poppe is mapping out bullish scenarios for Ethereum, Litecoin and two additional altcoins as Bitcoin continues to trade in a narrow range.
Van de Poppe tells his 351,900 followers in a new tweet that he’s keeping a close watch on Ethereum against Bitcoin (ETH/BTC).
According to the crypto strategist, ETH/BTC is poised for a 25% surge as long as it prints a bullish higher low setup.
“A correction on ETH/BTC isn’t bad.
Seeking for another higher low at 0.06 or 0.063 before continuation towards 0.075 BTC could happen.
ETH 2.0 is coming up.
People underestimate ETH.”
Another coin on the trader’s radar is peer-to-peer payments network Litecoin (LTC), which Van de Poppe believes is primed to recover $280 provided that it stays above crucial support at $100.
“I think the altcoins are close to a bottom too.
Litecoin and other altcoins reject a crucial level of resistance, but they are seeking a bit more confirmation before the trend can shift.
A higher low or double bottom will do with bullish divergence.”
Next up is SXP, which is the native digital currency of payments platform Swipe. Van de Poppe predicts that SXP can rally over 116% against Bitcoin (SXP/BTC) to 0.00013 if it takes out key resistance around 0.00006.
“Nothing has changed on Swipe.
I’m still expecting that a bull cycle is around the corner.
Breaking the 100-Day MA (moving average), and it should be fine.”
Next up is Algorand, a cryptocurrency for payments and a blockchain for decentralized finance applications. According to the crypto trader, Algorand must breach key resistance around 0.000029 against Bitcoin (ALGO/BTC) to surge to as high as 0.000042.
“Algorand looks good for a bullish breakout.”