The popular analyst, who shared his expectations in the crypto money markets with half a million subscribers, gave the signal of recovery in 3 cryptocurrencies. Saying that Bitcoin and Ethereum can recover in the short term, the analyst also shared a surprise altcoin with his followers.
Using the nickname Kaleo, the analyst says that Bitcoin is currently heavily affected by the selling pressure in the stock markets. Kaleo said he expects Bitcoin to continue its sideways movement before climbing out of its range to around $38,000, a roughly 20% rally from current prices.
Bitcoin has exceeded $ 30,500 several times today, and at the time of writing, it is finding buyers at $ 30,102. Michael Poppe, on the other hand, expects a move up to $ 31,100 in the scenario where Bitcoin holds above $ 30,300.
Kaleo says that Ethereum will start a bullish move in the coming weeks. Pointing to a 26% rally for Ethereum, the analyst believes that levels of $ 2,600 can be seen in a short time. ETH is currently trading at $2,054.
Kaleo said that the Binance Coin/Bitcoin pair (BNB/BTC) will see its all-time high in the coming months.
"BNB/BTC looks like it's looking to hit an all-time high by the end of this summer. It's a pretty impressive force in falling markets."
BNB price was around $333.93 at the time of writing and the last 24-hour trading volume was $1,517,662,510. BNB price is up 5.4% in the last 24 hours.
Total cryptocurrency market cap rose from $1.25 trillion to $1.3 trillion at the start of the week, driven by demand over the weekend. The total value of cryptocurrencies, which has been at its lowest levels since July 2021, has not yet been able to leave the risk zone.