Altcoins
With Bitcoin in a ‘low range,’ crypto analyst picks two ‘promising’ Altcoins for traders to watch
Widely followed crypto analyst says Bitcoin (BTC) must maintain current price levels or face a sharp fall.
Crypto trader Michaël van de Poppe tell his 717,100 followers on social media platform
“Bitcoin is in the low range. Technically, this is the area you would prefer it to hold in, so the bullish momentum continues and the range holds.
If this does not hold, then we could expect a potential low of $52,000 to $55,000 for this correction.
Source: Michaël van de Poppe/X
BTC is trading at $61,966 at the time of writing, up 5% on the week.
The analyst then fails AIOZ Network (AIOZ), a blockchain project seeking to anchor itself at the intersection of Web3, AI, storage and streaming.
“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.
Source: Michaël van de Poppe/X
AIOZ is trading at $0.853 at the time of writing, up 10% on the day.
Van de Poppe too look at the decentralized finance (DeFi) protocol Injective (INJ). Even though INJ has been down sharply since December, Van de Poppe says the altcoin has plenty of room to run.
“The hype has faded and it is down 70% against Bitcoin.
A great example of rotation.
Peaked on December 23.
Since then, Bitcoin has done +70%, INJ -40%.
Never marry your bag; switch to Bitcoin to produce more Bitcoin.
An attractive region for a long time.
Source: Michaël van de Poppe/X
INJ is worth $23.69 at the time of writing.
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Featured image: Shutterstock/Kiselev Andrey Valerevich