High-profile crypto dealer Michaël van de Poppe is analyzing 4 altcoins that just lately broke out, and he’s additionally tracing the trail of Bitcoin and Ethereum.
Upon request from his 361,000 Twitter followers, Van de Poppe takes a take a look at proof-of-stake blockchain Terra (LUNA), which is up 3.6% on the day at time of writing, buying and selling at $17.54.
Van de Poppe says he’s not concerned with LUNA on the present value, but when the asset breaks all the way down to $15 and even $11.50, he would possibly contemplate a commerce.
The analyst’s subsequent goal for LUNA is round $19.32. He says that LUNA should maintain the $16.35 help stage to sign additional continuation.
Next up, Van de Poppe discusses the peer-to-peer switch community Ravencoin (RVN).
Van de Poppe says he’s at present not concerned with longing RVN in its Bitcoin pair (RVN/BTC), but when it retests help at 0.00000234 BTC or 0.00000261 BTC ($0.11 or $0.12 at time of writing), the analyst will contemplate a commerce.
Ravencoin is buying and selling at $0.15 at time of writing, in response to CoinGecko.
As for scalable blockchain Cosmos (ATOM), Van de Poppe says that he expects the asset to retest help round $12.772 this month, then soar again as much as $17 in September earlier than reconquering the $20 space by November.
At time of writing, ATOM is trading at $15.10.
The fourth altcoin Van de Poppe discusses is decentralized buying and selling platform Wootrade Network (WOO), which is trading at $0.867 at time of writing.
Van de Poppe says Woo is going through resistance at $0.91. The analyst would possibly contemplate a commerce if WOO dips again all the way down to $0.71 or $0.55.
As for Bitcoin, Van de Poppe says that the main crypto is trying to flip $45,000 into strong help. The analyst says he is not going to be taking any trades as Bitcoin approaches the resistance zone from $47,000-$49,000.
At time of writing, Bitcoin has entered that resistance zone and is buying and selling at $47,510.
Van de Poppe says that if Bitcoin continues this run-up into the resistance space this weekend, it can more than likely be a fakeout. He says, nevertheless, that if BTC takes on a run throughout the week, then it might be on a reputable rally.
Ethereum (ETH) is going through resistance as nicely at round $3,270, in response to the analyst. Van de Poppe says he would possibly contemplate a fast commerce at $3,160.
ETH would possibly crack via the resistance space, however that can rely upon how Bitcoin performs on the present stage, says Van de Poppe.
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