Crypto analyst and YouTuber Michaël van de Poppe says he is closely monitoring five altcoins, which he says could potentially increase 10x versus Bitcoin.
In a new video, the crypto strategist says he’s looking closely at SXP, the native token of the crypto fiat gateway Swipe. According to Van de Poppe, the SXP / BTC pair will need to hold a key level in order to ignite the next rise.
“You want to see swipe hold above 0.0000053. Then the critical resistance zone at $ 40,700 is very comparable to Bitcoin. This level (0.00063) has to break through. If that breaks for Swipe, the next real hurdle is only around this area (0.000083). If it breaks above the 100 day moving average we are most likely moving into that area (0.000083) … After that we grant ourselves a new higher low by flipping the moving averages in support and then we can begin with the expansion and continue the dynamic. “
According to Van de Poppe, the closest resistance after 0.00083 is 0.00016.
Another coin on the list of traders is the scalable smart contract platform TomoChain against Bitcoin (TOMO / BTC). According to Van de Poppe, TOMO / BTC needs to break through a key level of resistance in order to trigger a strong rally.
“We are still consolidating well, with the critical level it needs to hold to maintain the upward momentum being the recent low (0.000038) … We are back above the 100-day and 200-day MAs. We reach a slightly higher high and therefore, when we crack this resistance zone (0.000049), we start a new impulse wave. “
Next up is Algorand, a blockchain for decentralized financial applications (DeFi). Van de Poppe notes that ALGO / BTC managed to maintain an important area of support while maintaining a bullish market structure.
“Algorand is ready to make the breakthrough because the critical level that ALGO has had to hold on to is support. Most likely, this entire structure of higher highs and higher lows will continue to move towards the new highs. “
Van de Poppe says the immediate resistance from ALGO / BTC is 0.000038. Movement above this level will target the closest resistance area of 0.000054.
The crypto trader is also watching the price movement of the Decentralized Financial Protocol (DeFi) Orion in its bitcoin pair (ORN / BTC). According to Van de Poppe, ORN / BTC must eliminate a strong area of resistance in order to start a massive rally.
“If Orion breaks it (0.0000025) you will see a big run towards the upper resistance zone (0.000043).
What is the area to keep? There are a few areas that interest me very much. The best thing you would want to see is Orion to keep the area around 2,150 satoshis (0.0000215). If that doesn’t hold, the recent low is the second area of support to consider (0.000018). “
The last coin is the decentralized exchange Curve Finance in their Bitcoin pair (CRV / BTC). The trader highlights the key area of resistance that CRV / BTC needs to break to start its bull market.
“But I suspect that we will see another nice upswing that will create another higher low after which we can continue the momentum or movements … Once we cross this resistance zone (0.00008) we can start running strong because between these is not much on both levels (0.00018). “
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Featured image: Shutterstock / Pavel Chagochkin