Ethereum, Solana and Elrond could rise more than 94% and beat all-time highs, says a cryptocurrency expert

Bitcoin (BTC) price spike has also weighed on the broad altcoins market, with some cryptocurrencies poised to hit new all-time highs. Especially after the launch of El Salvador and the launch of the first Bitcoin ETF in the US.

According to the cryptocurrency analyst MichaÃl van de Poppe, lThe cryptocurrencies with the greatest upside potential in this new cycle are smart contract platforms, Ethereum (ETH) and Solana (SOL), as well as the cryptoasset, which focuses on building a new internet of value, Elrond (EGLD).

Van de Poppe says that expects Ethereum to respect its immediate resistance of $ 3,900 one more time before hitting new highs with gains of up to 20%.

“Right now, we will encounter resistance for the third time if we think we can make that high (towards $ 4,000) before correcting a little and making even more new highs,” he said. .

Ethereum, Solana and Elrond could rise more than 94% and beat all-time highs, says a cryptocurrency expert
Ethereum, Solana and Elrond could rise more than 94% and beat all-time highs, says a cryptocurrency expert

Already looked Solana (SOL), the strategist, also expects the seventh largest cryptocurrency in the market to face a correction before an uptrend resumes and printing a new all-time high of $ 240.

“Jumping to Solana is really pretty tricky at this point. When you look at price action, you want to look at support levels in order to jump. So you’re looking at these ranges ($ 122, $ 97, and $ 78). to possibly build their position for the next rally as we anticipate that we will likely be overrun in the next phase of this bull cycle.

The last coin on the popular trader’s radar is Elrond versus Bitcoin (EGLD / BTC). that states that it is about to print a higher low at its current trade value of 0.0036 BTC worth $ 222.87, and then, According to the trader’s chart, the pair will start a bull run to a new high of 0.007 BTC, marking a potential high of over 94% from current prices.

Now it’s Bitcoin’s turn

Although Van de Poppe is optimistic about the altcoin market For the analyst known as DonAlt, the “alternative” cryptocurrencies could have some problems in their value as Bitcoin steals the scene and should profit from the profits of the Altcoins.

In the latest TechnicalRoundup newsletter, The analyst claims that the launch of a Bitcoin ETF in the United States wasn’t a “sale in the news”. Instead, he sees that Bitcoin is likely in the middle of a strong upward move.

“Overall, we believe that new all-time highs are likely (…) new highs.”

With Bitcoin and Etheruem (ETH) at all-time highs, DonAlt says he will not open any altcoins positions. He believes major cryptocurrencies (outside of BTC) will bleed to death as capital migrates to Bitcoin.

“First of all, if the price of Bitcoin explodes, we expect the altcoins to go away when the owners sell them to catch the movement of BTC. This will likely cause a liquidation cascade in the short term and create a very good play if Bitcoin Breakout stops printing [velas verdes]”he pointed out.

That’s what the dealer said Altcoins could be more attractive once Bitcoin finishes its breakout and consolidates in one area.

“In short, we don’t like altcoins as long as big companies are trying to print big (hopefully green) candles anytime soon. If they do, altcoins will become attractive after liquidation on a bounce basis or, in the case of a larger rotation, once the powder is gone.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you will need to do your own research when making a decision.

Similar Posts