Analyst: Obscure Crypto Asset Set to Skyrocket, Traders Should Have Bitcoin, Ethereum and Five Altcoins on Their Radar

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Full-time cryptocurrency trader and analyst Michaël van de Poppe says one enterprise blockchain platform is on track to skyrocket within the month.

So far, the strategist says Ontology (ONT) is following his script, which predicts the coin will ultimately surge to $1.07, which would effectively double its value from when he first made the call back in June. At the time, ONT was trading at $0.53.


Still following the plan!

— Crypto Michaël (@CryptoMichNL) July 31, 2020

Van de Poppe believes Bitcoin bulls are in control after turning $10,900 resistance into support. According to the crypto strategist, the bullish signal indicates that Bitcoin is likely to climb to $11,500.

As for Ethereum, the analyst says he’s eager to buy the dip. Should bulls continue to rampage, he sees the second-largest cryptocurrency ascending as high as $405 in the near term. Otherwise, he’s predicting a drop to $280.

The trader is also bullish on the XRP/BTC pair in the short term. He says as long as it is above 2,100 satoshis, it will likely head to 2,500 satoshis this month.

Van de Poppe is also looking at three altcoins that he believes have a lot of upside potential. He says while the ZIL/BTC (Zilliqa) pair has been on a downtrend, he thinks it is ripe to bottom out, which would offer the opportunity for a quick and simple trade.

It’s the same case for VET/BTC (VeChain). The crypto pair may also be on the verge of bottoming out but he admits that VET/BTC is still on a downtrend.

He’s also looking at LINK/BTC (ChainLink), which is currently in the midst of a deep retracement. He is still waiting for the crypto token to drop even more before placing long positions.

“It is even more likely that we’ll get that retest of previous resistance [turned into] support, which is the 55,000 [satoshis] level as this structure does not seem we’re going to have further momentum upwards.”

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The post Analyst: Obscure Crypto Asset Set to Skyrocket, Traders Should Have Bitcoin, Ethereum and Five Altcoins on Their Radar appeared first on The Daily Hodl.

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