Crypto Guru Awaits Rally In These 4 Altcoins!


Crypto Guru Awaits Rally In These 4 Altcoins!
  • An analyst closely followed by the crypto community, Ethereum (ETH) and said that three popular crypto assets could experience impressive rallies.

Koinfinans.com As we reported, Michaël van de Poppe has 624,300 Twitter followers, initially even though funding rates dried up before the project transitioned from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism in mid-September. Ethereum (ETH) He said the price continues to rise.

“ETH continues to rise even though ETH funding remains extremely negative.

Crypto Guru Awaits Rally In These 4 Altcoins!

People want to short ETH for the following reasons:

-Expectations that Merge will fail.

-Belief that this is a relief rally in a bear market.

The thought that markets will only go lower.

Max Pain* above.”

People want to shorten ETH because:

The pain is worth it.”

The analyst also shared with his followers a chart created by technical analyst Quincy Diepeveen, which tracks ETH funding rates throughout 2022. Funding is in red, according to the latest data.

Ethereum analysis

Van de Poppe says he expects many digital assets to test resistance levels after recovering from a weekend price drop that affected the market, while Ethereum will potentially rise above $2,000.

“There are some pretty solid retests going on across the markets, for example ETH, one of the biggest events -> still on track to reach $2,200 as Consolidation approaches.

Regardless of whether or not Bitcoin drops towards $19,000 for liquidity, I expect this upside structure to continue.”

At the time of writing, Ethereum is trading at $1,554, up about 2%.

Phantom (FTM)

The chart expert, who also reviewed ETH rival Fantom (FTM), predicts that the altcoin will continue its recovery momentum after falling from the $0.40 level in mid-August.

“This looks set to continue in a similar fashion to the rest of the market.

It needs to break and flip $0.29 and then $0.35 is possible.”

Phantom analysis

Phantom is up about 4 percent over the last 24 hours and is priced at $0.27.

Theta Network (zTHETA)

Also on Van de Poppe’s watchlist is the peer-to-peer video distribution platform, which has hovered under $2 since the May crash. Theta Network (THETA) exists. The analyst identifies two resistance levels for the altcoin, the first at $1.20 and the other at $1.60.

“This one, like many coins here, is pretty simple.

We are looking for 2 triggers:

– Sweeping and reclaiming the bottoms.

– Then break above $1.20 for a continuation trigger.

After that, our target is: $1.60.”

Theta analysis

Theta Network, which has increased by about 5 percent, is changing hands at the time of writing at $1.19.

Scale (SKL)

Lastly, speaking about Ethereum scaling solution Skale (SKL), the crypto trader predicts a breakout in this altcoin and is just waiting for the spark to start the rally.

“Not much has changed here and it is very similar to THETA.”

I’m patiently waiting for any triggers, but those triggers can move pretty quickly.”

Skale, which is up about 3 percent, is trading at a sell price of $0.049 at the time of writing.

scale analysis

*Max Pain The (maximum pain) price is the price at which the stock will cause the highest level of financial losses for all option holders who have contracts at that strike price at expiration.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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