Altcoins
Analyst Michaël van de Poppe Says Big Moment Coming for Ethereum, Predicts Rally for Layer 1 Altcoin
Crypto strategist Michaël van de Poppe believes that Ethereum (ETH) is about to witness a major trend change.
Van de Poppe told his 717,600 followers on social media platform (Ethereum spot ETF) in the coming weeks.
The SEC is foreseen to approve, delay or deny ETH ETF applications from financial giants Hashdex and Ark 21Shares on May 30 after postponing it in March.
Van de Poppe predicts that the SEC decision will end up being a crucial point for the top altcoin by market cap.
“This is a very likely scenario with Ethereum, where the delay/denial in two weeks is the big reversal moment for ETH and the markets.”
Source: Michaël van de Poppe/X
Looking at the trader’s chart, he seems to predict that ETH will dip below $2,700 before reversing and rallying back to $3,800.
At the time of writing, ETH is worth $2,920.
The next step is the AIOZ layer 1 cryptography project (AIOZ). According to the analyst, he expects AIOZ to maintain its bullish momentum as long as it continues trading above $0.65.
“This one looks very promising and is one of the hottest assets.
Trend level to maintain: $0.65-0.68.
If this is lost, then the long-term investment region comes into play.
If we maintain our position, I expect $1.35-1.45 to appear next.
Very strong.
At the time of writing, AIOZ is trading at $0.795.
Another altcoin on traders’ list is Ethereum scaling solution Arbitrum (ARA). Van de Poppe thinks the ARB is about to dig a hole.
“This one has a complete correction and is in the final stages of correction. Massive cascade over the past few weeks, through which markets often fill this wick in the weeks that follow. In this regard, the markets are close to the end of the correction.
Based on the trader’s chart, he seems to predict that ARB will bottom at around $0.90.
The latest altcoin on Van de Poppe’s radar is video-sharing blockchain native asset Verasity (VRA). According to the analyst, VRA is in a real downtrend and could find support at $0.004.
“A full retracement is occurring, which is relatively common for altcoins at this point in the cycle.
This is an important area of support, and I think most of the pain is already there.
This support has held up in the past, and I hope to do the same here.
At the time of writing, VRA is worth $0.0051.
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