Closely followed crypto analyst and strategist Michaël van de Poppe explained that he took a position amid the market crash, expecting a rise in the largest altcoin Ethereum (ETH) and its four competitors.
Poppe noted that with more than 610,000 Twitter followers, he has positioned himself for the grand rally on smart contract platforms Ethereum (ETH), Cardano (ADA), Avalanche (AVAX) and Fantom (FTM), as well as blockchain scaling solution Polygon (MATIC).
“I bought about 1.1 million FTM tokens between $0.21-0.22 for about $245k. I have long positions of up to $650k in total in ETH, ADA, MATIC and AVAX. Profit between 30 – 150 percent from my positions. I'll take it."
Poppe added that if Fantom falls below $0.175, he will close his FTM position. FTM is up 9.40 percent at the time of writing, trading at $0.2362, 25 percent above the analyst's stop.
The cryptocurrency analyst also shared the chart of Fetch.ai (FET), a platform that aims to combine technologies such as machine learning, artificial intelligence, and blockchain to show why altcoins are bullish, saying, “The FET chart also showed this a while ago, but overall Pretty much sums up my view on altcoins.” used the phrases.
Overseeing the largest altcoin Ethereum, Poppei claimed that trading in ETH below $1,000 is a huge opportunity for bulls, saying, “The triple-digit ETH is also a lifetime opportunity.” said. He also claimed that despite another round of pullbacks in the past 24 hours, the rally continues.
"Weekend moves are often fake. I still prefer longs over shorts. There are gains ready for longs."
Ethereum price was $1,122.55 at the time of writing, with a 24-hour trading volume of $21,506,413,442. ETH price is up 12.9% in the last 24 hours.