Today, the crypto market appears to be in good shape, with the most important coins trading in the green. Despite the recent massive volatility, there are a slew of bullish predictions about digital assets.
Now, a prominent trader and analyst explains why he chose five blue chip coins for his list of digital assets with massive potential.
Michael van de Poppe is looking at the price action of five “blue chip” altcoins that have a lot of upside potential.
He simply stated that the interoperable blockchain Polkadot (DOT) could spark a strong rally if it overcomes a significant resistance area.
“Once it breaks $29, it’ll run very heavy here.” Levels that I’m looking at accumulating with DOT are the two that we have here. So I’m keeping an eye on the level around $21. The second level that I’m looking at is around $18.”
Cosmos is another project that the analyst included on his list (ATOM). This is a platform aimed at assisting developers in the creation of blockchains capable of transacting and exchanging data, thereby creating a decentralized Internet of Blockchains.
He believes Cosmos will resume its uptrend if it can hold crucial support at $16.
He also compares the Tezos smart contract platform to Bitcoin (XTZ/BTC).
He claims that the pair is making higher highs and lower lows, and he also claims that it could increase by more than 70% to 0.00019 BTC ($8.98) if it breaks through resistance at 0.00011 BTC, which is worth $5.19.
The analyst discusses Synthetix, a decentralized finance platform.
He believes the coin’s value against Bitcoin (SNX/BTC) could double if it remains above a critical level.
“However, if we do have some sort of sideways structure, this entire range [0.00021 or $9.91] is where you want to be looking, and you can easily target ranges that are nearly 2x from here in the Bitcoin pair.”
This is the last coin addressed by the analyst. He believes that LINK/BTC will have one more leg down before resuming its uptrend.
This is the “untested range around 0.00041 BTC ($19.36).” At this point, I’d be scooping in a long in those two ranges.”