Popular crypto analyst Michaël van de Poppe shared that despite the gloomy outlook surrounding crypto markets, he is optimistic about the short-term outlooks of the three altcoin prices on his list. Expressing his short-term bullish expectation on behalf of Ethereum (ETH), Binance Coin (BNB) and Fantom (FTM), the analyst pointed to near-term critical price levels.
Poppe stated that ETH should protect the $1,100 levels in the near term and conveyed his thoughts that $1,250 levels can be exceeded in the near term on behalf of ETH. At the time of writing, Ethereum was trading at $1,167, up 3.2%. The lowest level Ethereum has reached this year is $897.
“Ethereum needs to exceed $1,100 and then we can target $1,250.”
Arguing that the crypto money market may rise again in the coming weeks, the analyst states that $ 260 levels can be followed on behalf of BNB in the near term. At the time of writing, Binance Coin is trading at $231.71, up nearly 25% from the 2022 low of $186.
"I've shared this before, the most important area to hold here is around $215. BNB is holding this area nicely, the next level could be $240 or $257."
The last altcoin on the analyst's radar was Fantom (FTM), a smart contract platform designed for decentralized applications. According to the crypto strategist, FTM needs to retake a key support area to maintain its bullish momentum. He claims that FTM can exceed the 0.30 band with the crypto money market rising again.
“FTM needs to reverse critical level. It looks good in any case but turning $0.26 will likely trigger a resumption of rally to new highs.”
Looking closely at Van de Poppe's chart, a move above $0.26 could trigger a rally to $0.29 for FTM. At the time of writing, Fantom was valued at $0.257, down over 3% in 24 hours, but is still over 22% from this year's low of $0.199.