Prominent crypto strategist and trader Michaël van de Poppe is keeping a close watch on XRP, Litecoin and two other altcoins that he says are close to waking up.
In a new strategy session, the analyst tells his 116,000 YouTube subscribers that XRP is poised to rally and print a new all-time high.
“When you look at the USDT values of XRP, you can actually derive Fibonacci extension to make the next target zone. So when we do that by Fibonacci retracement, and we do it like this, we get $2.85 and $4.30 as the next target zones for XRP in the next impulse wave. If we do it from the previous cycle, we can also say that we’ve hit the 2.618 [Fibonacci zone]. So most likely, in the next run up, XRP will go to $4.30.”
According to Van de Poppe, XRP is mirroring its price action from December 2020 to April of this year when the sixth-largest crypto asset surged over 1,052% from $0.17 to $1.96.
The next coin on Van de Poppe’s list is multi-currency transaction network Stellar (XLM). According to the crypto analyst, XLM could likely print a bullish higher low setup at $0.31 before skyrocketing to its 52-week high of $0.79.
“It’s still looking quite fine. The chances of XLM going all the way back towards this high [$0.80], have some consolidation before it breaks to the upside, is significant.”
Van de Poppe is also watching the price action of Litecoin in its Bitcoin pair (LTC/BTC). The crypto trader believes that the peer-to-peer payments network has managed to stay above a key support level against Bitcoin and is gearing up to register a new higher high at 0.01 BTC, worth $501 at time of writing.
“So I’m assuming anywhere in this range [0.003 BTC, or $150 at time of writing] we’re going to have the bottoming for Litecoin, after which we break back up, have some consolidation, then we start running.”
Finally, the trader looks at smart contract platform Tezos against Bitcoin (XTZ/BTC). According to Van de Poppe, the pair is forming a bottom structure and is now getting ready for a 68% rally from its current price of 0.000077 BTC, or $3.86.
“We are making a beautiful rounded bottom. That is Peter Brandt, his thing. But we are making a rounded bottom here, in which we got a squeeze, and the chances of this one breaking out heavily towards the resistance zone that we have around [0.00013 BTC, or $6.52] is massive.”
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Featured Image: Shutterstock/bluebay
Outstanding crypto strategist and dealer Michaël van de Poppe is preserving an in depth watch on XRP, Litecoin and two different altcoins that he says are near waking up.
In a brand new technique session, the analyst tells his 116,000 YouTube subscribers that XRP is poised to rally and print a brand new all-time excessive.
“While you have a look at the USDT values of XRP, you possibly can truly derive Fibonacci extension to make the subsequent goal zone. So once we try this by Fibonacci retracement, and we do it like this, we get $2.85 and $4.30 as the subsequent goal zones for XRP within the subsequent impulse wave. If we do it from the earlier cycle, we will additionally say that we’ve hit the two.618 [Fibonacci zone]. So most probably, within the subsequent run up, XRP will go to $4.30.”
In keeping with Van de Poppe, XRP is mirroring its worth motion from December 2020 to April of this 12 months when the sixth-largest crypto asset surged over 1,052% from $0.17 to $1.96.
The subsequent coin on Van de Poppe’s listing is multi-currency transaction community Stellar (XLM). In keeping with the crypto analyst, XLM may doubtless print a bullish increased low setup at $0.31 earlier than skyrocketing to its 52-week excessive of $0.79.
“It’s nonetheless trying fairly high quality. The possibilities of XLM going all the best way again in direction of this excessive [$0.80], have some consolidation earlier than it breaks to the upside, is critical.”
Van de Poppe can also be watching the value motion of Litecoin in its Bitcoin pair (LTC/BTC). The crypto dealer believes that the peer-to-peer funds community has managed to remain above a key assist stage in opposition to Bitcoin and is gearing as much as register a brand new increased excessive at 0.01 BTC, value $501 at time of writing.
“So I’m assuming anyplace on this vary [0.003 BTC, or $150 at time of writing] we’re going to have the bottoming for Litecoin, after which we break again up, have some consolidation, then we begin operating.”
Lastly, the dealer appears at good contract platform Tezos in opposition to Bitcoin (XTZ/BTC). In keeping with Van de Poppe, the pair is forming a backside construction and is now preparing for a 68% rally from its present worth of 0.000077 BTC, or $3.86.
“We’re making a ravishing rounded backside. That’s Peter Brandt, his factor. However we’re making a rounded backside right here, during which we received a squeeze, and the possibilities of this one breaking out closely in direction of the resistance zone that we now have round [0.00013 BTC, or $6.52] is huge.”
I
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Disclaimer: Opinions expressed at The Day by day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses you could incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in affiliate internet marketing.
Featured Picture: Shutterstock/bluebay
