Michael van de Poppe, a well-known crypto analyst, is forecasting a rally in Ethereum (ETH) to $20,000, as well as rallies in Chainlink (LINK) and four other altcoins.
Ethereum, according to the crypto strategist’s 424,200 Twitter followers, will continue on its 2017 bull market trajectory.
He described the comparison between ETH 2017 and ETH 2021 as “wonderful.” In 2017, it had a similar pattern, breaking south with a 50% correction. The same price behavior is occurring now, with a 35 percent decline. It’s still possible to get to $15,000-20,000 per ETH.
Beautiful comparison between $ETH 2017 and $ETH 2021.
Had a similar structure in 2017, where it broke south with a correction of 50%.
Now, the same price action takes place, with a correction of 35%.
The path to $15,000-20,000 per $ETH is still open. pic.twitter.com/ccF92EOyG5— Michaël van de Poppe (@CryptoMichNL) September 27, 2021
At the time of writing ETH is $2957. The support levels are at $2755, $2690 and the resistance levels are at $3013 and $3077.
Against Bitcoin (LINK/BTC), the crypto expert is also positive on Chainlink, a decentralized oracle network. LINK, according to Van de Poppe, is climbing to resistance at 0.0007 BTC ($29.42), a 27 percent increase from its current value of 0.00055 BTC ($23.11).
“Chainlink: The Most Undervalued Coin In The Top 20. I’m Still Bullish On This One And Oracles.”
At the time of writing LINK is trading at $23.16 and the first major resistance level is $24.5 followed by $25.28.
The support levels are at $21 and $20.99.
Elrond (EGLD), a blockchain platform built to power distributed apps, enterprise use cases, and crypto transactions, is the next coin on the trader’s radar. Elrond is primed for a big rally against Bitcoin (EGLD/BTC) to his aim of 0.008 BTC, worth $336.25, according to Van de Poppe.
Request 08 – $EGLD
This one is always one of the earliest runners. Earlier this year, February, it ran as one of the first coins too.
Beautiful S/R flip.
I think we hold that level and have another run to 8000 sats. pic.twitter.com/Pvkxjrbr2U— Michaël van de Poppe (@CryptoMichNL) September 28, 2021
He claims that this is always one of the first to run. It also aired as one of the initial coins earlier this year, in February. Stunning [support/resistance] reversal. He believes we will maintain that level and make another push to [0.008 BTC].
Request 02 – $COTI
This one is ready for continuation, very similar chart to $CELR before breakout.
Flip of either of those two levels and continuation towards $1 is likely. pic.twitter.com/3ZszARRABD— Michaël van de Poppe (@CryptoMichNL) September 27, 2021
Next up is COTI (COTI), a payments infrastructure platform, which Van de Poppe believes must maintain above support at $0.48 or $0.41 to have a chance of triggering a spike of more than 100%.
“Flip Of Either Of Those Two Levels And Continuation Towards $1 Is Likely.”
Harmony (ONE), a blockchain-focused on supporting a decentralized economy, is another coin on traders’ radar. Harmony is preparing for a 90 percent increase in its Bitcoin pair (ONE/BTC) from its present value of 0.00000368 BTC ($0.15), according to Van de Poppe.
He expects the trend to continue, with a possible reversal before the next target of 0.000007 BTC ($0.29).
Request 01 – $ONE
Massive S/R flip and bounce from this one here. That's great!
Looking at continuation happening, through which we might see a bit more correction before 700 sats is next. pic.twitter.com/64IK5b479b— Michaël van de Poppe (@CryptoMichNL) September 27, 2021
Fetch.ai, a decentralized machine-learning network, is the last coin on Van de Poppe’s list (FET). Fetch.ai appears positive versus Bitcoin (FET/BTC) after converting previous resistance at 0.000014 BTC ($0.59) into support, according to the crypto strategist.
Request 04 – $FET
Starting up a new cycle here and we've marked that 2400-2700 sats region earlier.
Beautiful rejection there.
Beautiful S/R flip at 1600 sats.
Probably ready for 5000 sats. pic.twitter.com/yYqrOPIXH1— Michaël van de Poppe (@CryptoMichNL) September 27, 2021
Ethereum and Dogecoin Primed for Breakouts As Crypto Markets Gear Up for Bullish December, According to Analyst Justin Bennett
Crypto analyst Justin Bennett says that December could bring rallies to the digital asset markets, with Ethereum (ETH) and Dogecoin (DOGE) potentially at the forefront.
The analyst tells his 91,000 Twitter followers that the dollar index (DXY), which compares the USD to a basket of other fiat currencies, is flashing a bullish signal for the crypto markets.
A weaker DXY often signals higher prices for many assets. Bennett notes that DXY may have just had a failed breakout, and could now be facing downward momentum.
“DXY looks good for a crypto rally heading into December.
Friday’s close back inside this channel indicates weakness. Now for a close below 95.80.
Bennett also has his eye on the chart for the total market cap of crypto (TOTAL). According to him, TOTAL is nearing the end of a large bullish descending wedge. He also notes a divergence between the rising relative strength index (RSI) and the downward price movement. A rising RSI during a downtrend is often interpreted as a hint of a bullish reversal.
“TOTAL falling wedge and bullish divergence developing on the intraday charts.
Something to keep an eye on.”
Looking at Ethereum, the analyst says that next month looks good for the world’s second-largest crypto. Bennett says ETH is “poised to do well in December,” and could already be jostling for a breakout, as long as it sees more volume.
“ETH approaching a breakout level.
Just add volume.”
Also joining the rallies, according to Bennett, is leading memecoin Dogecoin (DOGE). He says DOGE is in the middle of a breakout, with its first key resistance at $0.25, and a final resistance level at all-time highs above $0.75.
“DOGE is breaking out.”
Should Ethereum investors really prepare for a ‘$6000’ December
Ethereum hasn’t had a great time in November. Dropping by more than 9% at one point, the asset continued to decline over the course of the month.
However, the overall view might not be as bad as it seems on the surface. In fact, Ethereum has registered a 0.5% ROI for the month, which means investors would not have lost much even if they had invested towards the beginning of November.
Now, in this article, we will highlight a couple of factors that might suggest patience being rewarded for ETH investors during the last month of 2021. At press time, Ethereum’s market cap had recovered above $500 billion, having appreciated by 7% on the charts.
One of the primary observations seen over the past 30 days is that Ethereum continued to find support between $3800 and $4000. After hitting $4400 in late October, it tested that range again before rising higher on the charts. However, the 2nd half of November led to strong corrections and on 26 November, a significant collapse took place. This range was tested again and now, over the last 30 days, the same price zone has been tested 5 times.
Speculations lead one to believe that Ether may undergo corrections beyond this level after it struggled just above $4000 over the last few days. However, over the last 24 hours, ETH recovered back above $4300.
Now, immediate corrections concerns might have been put to bed and another positive trait can be observed.
Ethereum and its larger plans for December?
Ether’s price chart in the short-term might indicate chaos, but the long-term chart seemed to imply dynamic bullishness. This may lead to a strong December. The asset’s movement has formed a Cup and Handle pattern over the past few months. Keeping a base resistance of $4000, the pattern underwent a positive breakout during the beginning of November.
Now, in the grand scheme of things, the last few weeks of correction were a testing phase down to $4000.
Finally, Ether closed above $4000 yesterday on the weekly chart, emphasizing the presence of long-term bulls in the chart. Hence, technically, if the cup and handle pattern sees a positive turnaround, Ethereum should be expecting a 50% chance of testing a new high at $6000-$6200 over the course of December.
On the question of identifying on-chain proficiency, ETH’s MVRV ratio suggested a buying opportunity. With the value dropping down to zero, it was a sign that selling pressure has more or less fallen for the altcoin. Historically, this has been a good period to buy based on the MVRV, and the overall market is set up in that direction as well.
Bitcoin, Ethereum and Two Smart Contract Competitors Are the Winners Among Institutional Investors, According to Crypto Asset Manager CoinShares
Leading digital asset manager CoinShares says institutional investors have a strong appetite for Bitcoin (BTC) and three leading smart contract platforms.
According to the firm, the overall crypto market correction has left investors hungry for more.
“Digital asset investment products saw inflows of US$306m last week suggesting [a] continued appetite for digital assets.”
As usual, BTC led all digital assets in terms of capital inflows, this time in the wake of a new exchange-traded product (ETP) set to launch on the Deutsche Borse exchange.
“Bitcoin saw the largest inflows in 5 weeks totaling US$247m following the launch of another investment product in Europe. This brings the 11 week run of inflows to US$2.7bn.”
BTC is trading at $58,475 at time of writing, up nearly 6% on the day.
The leading smart contract platform Ethereum (ETH) concluded a strong month of inflows with a week totaling over $23 million.
“Ethereum saw inflows totaling US$23m last week, marking its 5th consecutive week of inflows.”
This week’s big winners in inflows relative to assets under management (AuM) also include the scalable smart contract platform Solana (SOL) and the interoperable blockchain Polkadot, which is designed to support multiple layer-1 smart contract protocols.
“In terms of inflows relative to AuM, Polkadot and Solana continue to be the winners, with inflows representing 8.6% (US$11.5m) and 5.9% (US$14.6m) of AuM respectively last week.”
Ethereum is currently trading at $4,453.79, up 7.5% in the last 24 hours. SOL and DOT are trading at $211.48 and $36.82, respectively, at time of writing.