On the first day of 2023, crypto analysts continue to convey their expectations. In this article, we will convey the altcoin projects that the famous trader drew attention to. The expert shared these coins as he expects a rise. However, before sharing the comments, it is worth noting that the cryptocurrency market is very volatile. Here are the details…
Michael van de Poppe analyzed 3 altcoin projects
Contrary to popular expectations, 2022 has been a year when most cryptos lost their 2021 gains in just a few months. Still, the crypto market is not showing any bullish momentum yet. Meanwhile, a prominent cryptocurrency analyst commented. He published his analysis of some cryptocurrencies. Cryptocurrencies it analyzes include Bitcoin (BTC), Fantom (FTM), Litecoin (LTC), and Fetch.ai (FET).
Michaël van de Poppe shared his insights on the price analysis of these cryptos with over 643,500 followers. While talking about BTC, the analyst pointed out that the largest cryptocurrency is in a bearish trend. According to him, BTC saw two hard rejections last week. He said rejection levels are at the $16,600 and $16,800 price levels, respectively. Meanwhile, he noted that the leading crypto asset may soon retest the $16,400 price resistance level. The analyst used the following statements:
If BTC retraces this price zone, USD should rise. However, if BTC fails to overcome this price resistance level, it will drop to the next support level at $16,200.
What’s next for Litecoin and FTM?
Also, Van de Poppe believes that Litecoin is approaching a suitable price zone for possible long-term trades. The analyst said, “LTC reached its target sooner than I anticipated. Long regions are ahead,” he said. Additionally, the trader analyzed the performance of the layer-1 network Phantom. He identified two key price points for FTM. Trader used the following statements:
Let’s check if the trend can reverse in FTM. There is a critical support level at $0.1990. However, the token will need to surpass a critical resistance of $0.2025.
Analyst pointed to the power of FET
Next, the analyst shifted his focus to the token (FET) of the artificial intelligence network Fetch.ai. While discussing FET in his analysis, Van de Poppe referred to it as a powerful token. “Altcoin has retested the bearish bias; but the price did not drop as much as I wanted so that it can get fullness. I’ve shared this here before,” he said. Van de Poppe said that AI-powered blockchain has finally “reached the level he expected.” According to the analyst, “the token is rising and if the market remains stable, it may continue to rise.”
However, the AI altcoin is still 92.16 percent below the all-time high of $1.19 recorded on September 8, 2021. The lowest value since the token’s launch was $0.00816, reached on March 12, 2020.
