Michael van de Poppe, a well-known crypto analyst, and trader say he’s keeping a careful eye on one low-cap altcoin that has the potential to climb over 250 percent in the face of unfavorable market conditions.
Van de Poppe, who has 354,200 followers on Twitter, says he’s considering Fetch.ai, a decentralized machine learning network counter to Bitcoin (FET/BTC). The FET/BTC pair, according to the crypto analyst, is now holding support and appears to be on the verge of a huge rally.
“FET looks ready for a 250%-700% run.”
According to Van de Poppe’s chart, FET/BTC is printing higher highs and lower lows, which could herald a rise toward resistances at 0.000014 BTC, or about $0.41 at the time of writing, and 0.000055 BTC, or about $1.62.
Axie Infinity, a blockchain-based game, is another coin on traders’ radar. Van de Poppe observes that Axie Infinity clashes with its immediate support of 0.0005 BTC, or $14.84, against Bitcoin (AXS/BTC). If that fails, the trader says he’ll hunt for the next support level, which is 0.0004 ($11.88).
“At first level of support and bounced with 18%.”
Polygon, a blockchain scaling solution, is next on the traders’ list (MATIC). According to Van de Poppe, MATIC could recover at $0.43 after breaching the crucial price level of $0.73. Polygon is now trading at $0.67 at the time of writing.
“This one is at support here too, but the trend is obviously down. The first level of support for a potential bounce. That’s currently. Resistance: $1. Next level of support: around $0.43.”
The supply chain management technology VeChain vs Bitcoin (VET/BTC) is the fourth coin on Van de Poppe’s watchlist. According to the crypto trader, after failing to retake a significant level, the crypto trader predicts that VET/BTC would drop to 0.00000155, or around $0.04.
“Currently in the next area of support after rejecting 270 sats ($0.08). Would like to see a reclaim of 220 sats ($0.65). If that doesn’t happen, then I’m focused at 155 sats for potential entries.”
Litecoin, a peer-to-peer payment platform, comes next (LTC). According to Van de Poppe, LTC is primed for a bounce toward $280 as long as it maintains support above $100.
” [At] critical support right now and barely hanging in there.”
The final coin is SushiSwap, an automated market maker that trades Bitcoin (SUSHI/BTC). According to the crypto trader, if the pair manages to stay above support at 0.00021 BTC or $6.22, it may spark a 66 percent raise.