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Top Trader Names Five Altcoins Set to Rally, When to Buy Ethereum and XRP, and What’s Next for Bitcoin

August 10, 2020

Full-time crypto trader and strategist Michaël van de Poppe says he’s keeping close tabs on five low-cap altcoins that are showing strong bullish signals.

The analyst, also known as Crypto Michaël, says he is watching Celer Network, as he believes the CELR/BTC pair indicates a significant rally is coming.

“Celer Network is showing a clear volume accumulation, which is showing that people are interested in this asset… We see that we are above the 100-day and 200-day [moving average] for the first time since the listing. So we’re getting into the bull territory for the first time since it has been listed.”

Van de Poppe sees Celer Network possibly climbing as high as 200 satoshis, which is a 140% increase from its current level.

The crypto trader is also looking at Harmony (ONE/BTC), which he says has a similar market structure to the CELR/BTC pair. Van de Poppe says that as long as it holds 73 satoshis, he expects ONE/BTC to launch a parabolic move en route to 180 satoshis – representing an increase of nearly 110% from its current value of 83 satoshis.

Another coin on Crypto Michaël’s list is TROY (TROY/BTC). He says that while it is still consolidating, a breakout can take the pair to 100 satoshis, which is a surge of over 70% from its current price of 58 satoshis.

In addition, the trader is waiting for a pullback on Decentraland (MANA/BTC). He says the coin broke out of a year-long accumulation. Should it hold 680 satoshis, he believes the crypto can soar to 2,000 satoshis.

The last coin on the trader’s list is Algorand (ALGO/BTC). Van de Poppe is looking to buy on dips as he sees ALGO going as high 5,500 satoshis should it hold 3,000 satoshis.

Meanwhile, Michaël van de Poppe is keeping a close eye on Ethereum (ETH) after going vertical over the last few weeks. He says he’s waiting for the second-largest cryptocurrency to significantly correct down to $320 and then $280 before placing long positions.

It’s the same for XRP. The analyst says the third-largest crypto is now ripe for a retracement after a strong push above $0.32. Van de Poppe is eyeing $0.28 and $0.24 as possible levels to take longs.

As for Bitcoin, Crypto Michaël says BTC is now trading around the resistance level between $11,600 and $12,000. He suggests waiting to see if the king crypto converts resistance at $12,000 into support. Otherwise, he is expecting BTC to drop to strong support at around $9,800.

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