dailyhodl.com
Crypto analyst and YouTuber Michaël van de Poppe says he’s keeping a close watch on five altcoins that he says can potentially surge 10x against Bitcoin.
In a new video, the crypto strategist says he’s looking closely at SXP, the native token of crypto-fiat gateway Swipe. According to Van de Poppe, the SXP/BTC pair must hold a key level to ignite the next leg up.
“You want to see Swipe hold above 0.0000053. Then, the critical resistance zone is very comparable to Bitcoin at $40,700. This level (0.000063) has to break. If that breaks for Swipe, the next real hurdle is only found around this area (0.000083). If it breaks above the 100-day MA (moving average), we are most likely moving toward this area (0.000083)… After that, we grant ourselves a new higher low by flipping the moving averages for support, and then we can start expanding and continuing the momentum.”
According to Van de Poppe, the next resistance after 0.000083 is 0.00016.
Another coin on the trader’s list is scalable smart contract platform TomoChain against Bitcoin (TOMO/BTC). According to Van de Poppe, TOMO/BTC must breach a key resistance level to ignite a strong rally.
“We are still consolidating nicely in which the critical level that it has to hold in order to sustain the upward momentum is the recent low (0.000038)… We are back above the 100-day and 200-day MA. We are slightly making a higher high and therefore, if we crack this resistance zone (0.000049)… we start a new impulse wave.”
Next is Algorand, a blockchain for decentralized finance (DeFi) applications. Van de Poppe notes that ALGO/BTC has managed to hold a key support area while keeping a bullish market structure.
“Algorand is ready to make the breaker as the critical level that ALGO had to hold onto is holding support. So most likely, this entire structure of higher highs and higher lows is going to continue moving toward the new highs.”
Van de Poppe says the immediate resistance of ALGO/BTC stands at 0.000038. A move above that level will target the next resistance area of 0.000054.
The crypto trader is also watching the price action of decentralized finance (DeFi) protocol Orion in its Bitcoin pair (ORN/BTC). According to Van de Poppe, ORN/BTC must take out a strong resistance area to launch a massive rally.
“If Orion breaks through it (0.0000025), you are going to see a big run towards the upper resistance zone (0.000043).
What is the area to hold? There are a few areas that I’m very interested in. Preferably, you want to see Orion to hold the area around 2,150 satoshis (0.0000215). If that doesn’t hold, the recent low is the second area of support that you could be looking at (0.000018).”
The last coin is decentralized exchange Curve Finance in its Bitcoin pair (CRV/BTC). The trader highlights the key resistance area that CRV/BTC must break to start its bull market.
“But I’m suspecting that we’re going to have a nice bounce back up, creating another higher low, after which we can continue making the momentum or making the movements… Once we break above this resistance zone (0.00008), we can start running heavily as then there’s not much between these two levels (0.00018).”