Cryptocurrency analyst and trader Michaël van de Poppe claimed that with the strong rally of Bitcoin (BTC) and some cryptocurrencies, their prices could rise by up to 200 percent. The analyst listed the high-potential altcoins that he follows closely.

Van de Poppe told his more than 610,000 Twitter followers that investors can make big gains in altcoins such as Avalanche (AVAX), Solana (SOL) and Chainlink (LINK):

   “The whole market seems poised to move heavily. Many altcoins and Bitcoin have climbed above the 50-day moving average (MA). Bitcoin has also risen above the 200-week moving average. To me, this means altcoins can rise by 100-200 percent. is showing."

The trader stated that AVAX can go from $ 24.34 to $ 41, which is its current price, and used the following statements.

   “Altcoins are ready for another 100-200 percent run from here. AVAX can be given as an example. It broke above the 50-day MA before, the breakout was confirmed by the purchases during its retest of the MA. The uptrend is with all the previous highs. Together, it is above $26. There is a bullish divergence on the 1-day chart. Possible targets in altcoin: $37-41."

MichNL

The analyst also noted that Solana, which was traded at $ 43.31 at the time of writing, could rise to $ 84 with an increase of about 94 percent:

   “There is one more altcoin here that can continue: SOL. Why? Why? It held above the 50-day MA. As it keeps making rising bottoms, buyers' pressure is increasing and it provides an acceleration in buying at $26. Potential targets for the altcoin are $62 and $84.”

Van de Poppe added that the fact that Blockchain oracle network Chainlink is trading at $ 7.20 is a good price level to buy in the altcoin, saying:

   “Chainlink looks set for a good exit. USD and BTC pairs seem to be in accumulation as months of sideways movements continue. Currently in the investable zone. I believe $6-8 is a lifetime buying opportunity in LINK.”

Cryptocurrency prices have skyrocketed after the US Federal Reserve (Fed) raised interest rates by 75 basis points on Wednesday and Chairman Jerome Powell announced that they could see dovish rate hikes in the future.