Trader Michaël van de Poppe, who shared his analysis of the crypto money ecosystem on Youtube, said that he follows these three altcoins closely.
Van de Poppe placed Polygon (MATIC) first on his list. He stated that the Ethereum (ETH) scaling solution in the token could potentially reach a new high of $2.70. Van de Poppe said:
“We are making higher lows in general. So we are increasing the pressure and we are heading towards a fresh break above the all-time high at $2.62. Right now, if there is an area you would like to look for potential entries, you look at this green zone (around $1.80) and we're entering the last resistance point we can dive into. So let's still go bullish before making a breakout… If MATIC can hold on to this green zone, we can start waiting for $2.70.”
Polygon (MATIC) is currently trading between 0.00002170 BTC ($1.23) and 0.00003500 BTC ($1.98). According to Poppe, Polygon could potentially break out of this range and “start a rapid uptrend” and surpass 0.00005200 BTC ($2.94).
Next on Van de Popple's list is the native presence of blockchain platform Harmony (ONE). The famous analyst says there are potential short-term buying opportunities around the 0.00000417 BTC ($0.24) and 0.00000344 BTC ($0.19) support levels.
“This is an area where I would like to look for potential longs (0.00000417 BTC). If this disappears, I am looking for an entry for a long position in this region (0.00000344 BTC)."
Saying that the popular cryptocurrency Harmony is also in a bearish trend, Poppe says that ONE will target a profit between 0.00000090 BTC ($0.005) and 0.00000500 BTC ($0.28).
“We are definitely looking for a bounce game just to follow 0.00000090 BTC to 0.00000500 BTC as we will most likely make a lower high and continue the downward trend.”
Van de Poppe says key support levels for Harmony lie between $0.21 and $0.23. The crypto analyst warns that Harmony is already in a bearish trend and the price could drop as low as $0.17.
“I think the only significant support you should be looking at is this entire green zone [between $0.21 and $0.23] which is the low range. So, diving in here, I think you still want to look for potential longs. However, there is already a lower high here, so potentially the trend is down. And if the trend is down, I will also look at the $0.17 area.”
The last cryptocurrency on Poppe's radar is VeChain (VET). Van de Poppe says that if the altcoin prints lower on the charts, a potential buying opportunity for VeChain is around 0.00000210 BTC ($0.12). Saying that VeChain is sitting at the $0.11 support level, the investor analyst said that he will wait for Bitcoin's price action to determine the direction of altcoins.
“As for VeChain against USDT, we are back to support at this stage but still waiting for confirmation from Bitcoin. If this is to confirm that the market is ready to move on, then that's when altcoins start popping up. And at the moment I am not yet convinced about Bitcoin.”