A prominent figure in the crypto analysis space, Michaël van de Poppe, recently shared his insights on several altcoins, including Avalanche (AVAX), a strong competitor to Ethereum (ETH), and the meme-coin, Pepe (PEPE), which has been the talk of the town for a while now. His forecast for these coins, amongst others, reflects a deep understanding of the market and its current trends.
Read on to know how you too can invest in these cryptocurrencies and strike gold.
Avalanche (AVAX)
Commencing with AVAX, van de Poppe sees potential for an immediate but brief upward move to around $14 or $12. However, he remains cautious, recognizing that the overall trend for AVAX is still bearish. He advises investors to wait for low timeframe confirmation before making a move. To sustain any potential upswing, AVAX must reclaim a price point of $16.50, failing which, he suggests potential long positions at $12. At press time, AVAX stood at $14.94.
Pepe Coin (PEPE)
Turning to the world of memecoins, the analyst examined Pepe. He sees this coin undergoing a bear market relief rally. Its current challenge is to maintain a value above $0.00000173, to secure the possibility of a surge towards $0.0000024. If it loses this critical support level, van de Poppe suggests a short play with the potential for a long position at $0.00000085. At the time this article was being written, Pepe stands at $0.000001670723.
The Graph (GRT)
The Graph (GRT), a blockchain-indexing protocol, is also on van de Poppe’s radar. He expressed concerns about the continued selling pressure on GRT, with its value lingering below the important $0.13 mark. Unless this crucial threshold is reclaimed, he predicts a further drop, potentially making $0.097 an attractive point for a long position. GRT’s current trading value is $0.1222.
Quant (QNT)
Lastly, the seasoned trader discusses Quant (QNT), an interoperable blockchain. He observes that QNT is nearing a support level and advises patience, recommending that investors wait for a signal of strength before buying. He believes a flip of $112 might activate a long, potentially leading to a quick rise to $175. However, if this does not occur, he sees $76 as the next target. At the time of writing, QNT is valued at $106.
