Michaël van de Poppe told his 624,800 Twitter followers that the long-awaited Vasil Hard Fork update on Cardano could be the key catalyst that took ADA to a level not seen since February this year.
According to the analyst, the update of Cardano is a critical development. ADA has nice support confirming it's a double bottom. The analyst's target is $0.55 and then $0.75. ADA is currently trading at $0.50, up 2.40% in the last 24 hours.
The next altcoin on the analyst's list is XRP. Analyzing the Bitcoin and XRP chart, the analyst claims that XRP is preparing to gain momentum. According to the analyst, the 50-day moving average and the 200-day moving average confirm this. A break above 0.000017 BTC ($0.34) could enable the target of 0.000022 BTC ($0.44). The XRP/BTC pair is currently at 0.0000166 BTC ($0.33).
Another altcoin on Poppe's list is the smart contract protocol EOS (EOS). According to Van de Poppe, EOS will likely retest the $1.35 support level before surging to $2. Technical data and fundamentals look solid on EOS. After EOS drops back to support level, $2 is on target. EOS is currently trading at $1.48, down nearly 3% on the day.
Another altcoin on the analyst's list is the peer-to-peer payment network Litecoin (LTC). Looking at the technical data, Van de Poppe predicts that LTC will experience a slight correction before potentially registering a 35% increase. According to the analyst, LTC broke above the 50-day moving average. If LTC stays above the $59 level, the rally could continue. LTC could reach $80 later. LTC is trading at $60.68, up over 2% in the last 24 hours.
The latest altcoin on Analsite's radar is Cosmos (ATOM), a blockchain ecosystem designed to scale and communicate with each other. According to Van de Poppe, ATOM will continue to rise as long as it trades above the key $11 support area. If ATOM breaks to $13 level, the next target will be $17-18. Cosmos is trading at $12.96, up over 3% in the last 24 hours.