dailyhodl.com
Crypto analyst Michaël van de Poppe is analyzing five altcoins that he believes could surge in price this month.
The analyst says layer-one projects like Cardano (ADA), Solana (SOL) and Avalanche (AVAX) are currently doing great, so similar projects are likely to follow suit. Layer-one projects are built into basic blockchain protocols to help improve scalability and function.
Van de Poppe says the layer-one project Cosmos (ATOM) is still inside its accumulation range against Bitcoin (BTC), and once it breaks out of that accumulation range, the “first real impulse wave” for the asset will happen.
Cosmos is designed to help developers build interoperable blockchains that can transact and exchange data with one another, creating a decentralized internet of blockchains. The project’s native asset ATOM is trading at $25.08 at time of writing and is up about 25% in the past week, according to CoinGecko.
Next on Van de Poppe’s list is the Mina Protocol (MINA), which bills itself as a “lightweight” blockchain platform. The project’s native asset MINA is trading at $4.12 at time of writing and is up nearly 40% in the past seven days.
Price-wise, the analyst says “the next levels that we should be looking at” for MINA are $5.30 and $8.00.
Van de Poppe is also looking at the decentralized oracle platform Chainlink (LINK), which he says “is not doing anything at all, yet.”
Chainlink’s native asset LINK is trading at $29.45 at time of writing and is up nearly 11% in the past week. The analyst says LINK has been performing weakly against Bitcoin and is primed for a new impulse wave against BTC.
“The oracles underperforming shows that there is a big opportunity lying in the oracle section. If you want to have exposure towards the oracles, the cheapest option, or the most risk-averse option, is to take the entry on Chainlink.”
Fourth on Van de Poppe’s list is the sharding protocol ONE, the native asset of Harmony. ONE is trading at $0.121543 at time of writing and is up almost 11% on the week, according to CoinGecko. The analyst says ONE’s positive price action is eager to continue, predicting an impulse wave for the asset in terms of its Bitcoin pair.
Last on Van de Poppe’s list is the smart contract platform Tezos (XTZ). The analyst notes Tezos’ native asset XTZ hasn’t seen any bullish movement against Bitcoin all year. He says if the asset breaks through its current resistance, it could 2x against BTC.
XTZ is trading at $5.32 at time writing and is up nearly 6% in the past week.