Altcoins
Small-Cap Altcoin Is About to See a Major Breakout, Says Analyst Michaël van de Poppe – Here Are His Targets
A widely followed crypto analyst believes an under-the-radar altcoin is about to experience a massive breakout.
Crypto trader Michaël van de Poppe tell its 722,400 followers on the social media platform X that the Omni Network (OMNI), which aims to integrate Ethereum (ETH) bringing the ecosystem together into a single unified network could soon climb by more than 16% from the current value and continue to increase.
“I am very interested in new cryptocurrencies, especially those listed on Binance. OMNI is one of them, which is about to have a big breakout to the upside. It needs to break above $16, but first of all, it needs to hold above $12.50 as support.”
Source: Michaël van de Poppe/X
OMNI is trading at $13.70 at the time of writing, up nearly 3% in the past 24 hours.
Then the analyst said Bitcoin (Bitcoin) is likely in an uptrend and could return to all-time highs (ATH) around $73,000 after a period of consolidation. He also believes Bitcoin could benefit from the expected approval of ETH spot exchange-traded funds (ETFs).
“Bitcoin is back in the range. It is likely that we will see a continuation of this trend towards the all-time high. I think we will consolidate a bit more and start to see substantial strength from ETH after the ETF listing.”
Source: Michaël van de Poppe/X
The analyst also actions a chart that shows retail investor demand is the weakest it has been in about three years – less than 15% over the past 30 days – suggesting that demand from this class of investors will soon reverse and send Bitcoin soaring.
“This is a great chart that illustrates the current sentiment. The gap between institutional interest in Web 2.0 and sentiment for Web 3.0 is at an all-time high. This is the lowest point in years on the demand side. Things are about to change for Bitcoin. Now is the time.”
Source: Michaël van de Poppe/X
At the time of writing, Bitcoin is trading at $66,852, up 5% in the last 24 hours.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3