Popular cryptocurrency trader and analyst Michaël van de Poppe has weighed in on the future potential for six altcoins to appreciate, with one of them being Cardano’s ADA token which has surged nearly 1,700% over the last 12 months.
Over a series of tweets, the analyst gave his over 335,000 followers an overview of his thoughts for some of these cryptocurrencies when it comes to technical analysis. The largest asset he looked at was ADA traded against BTC.
Per van de Poppe, Cardano’s ADA is still “showing much strength” and is in a bull cycle. He expects the cryptocurrency to surge to 6,200 satoshis in the near future, up from the 4,600 satoshis it’s currently trading at, indicating a potential gain of 34% if the pair hits the trader’s target next month.
As Daily Hodl reports, another cryptoasset van de Poppe looked at is SXP, the native token of Swipe. Per the analyst, SXP is gearing up for an 86% surge before the end of the month, as it has been “building up strength.” To surge, however, it will need to break through its 100-day and 200-day moving averages.
He also looked at Waves, a blockchain-based platform allowing users to create and trade their own cryptocurrencies that also gives them access to a decentralized exchange and investment solutions. Per his words, WAVES could surge 35% against BTC if it holds onto its support above the 100-day and 200-day moving averages.
As for Enjin Coin (ENJ), van de Poppe said the gaming platform is ready for a new bull cycle, highlighting key support areas at $0.67 and $1.29. Similarly, Chiliz (CHZ) is also “ready to start a new cycle.”
The analyst also looked at Fantom (FTM), saying the cryptocurrency could rally by July if it manages to break through the 1,000 Satoshi mark. Dent could similarly skyrocket over 200% from its current $0.031 price tag, but only after an ongoing accumulation phase is complete.
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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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