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Crypto Market Analysis: Top Altcoins Poised to Explode Soon!
Renowned crypto expert Michael van de Poppe recently shed light on altcoins he believes are primed for a significant surge. In his latest analysis, van de Poppe explored the current state of the crypto market, mainly focusing on Bitcoin’s resistance level and its potential impact on the altcoins he is betting on.
Altcoins at the Forefront
Van de Poppe’s focus on altcoins spotlights their potential to outperform in the current market. In his detailed analysis, he zeroes in on specific altcoins, including Chainlink (LINK), Arbitrum (ARB), and Sai (SAI), delineating their market positions and potential for a bullish run.
Chainlink, in particular, stands out in van de Poppe’s analysis. He notes its long period of lateral movement, followed by a breakout, as a strong indicator of an impending uptrend. The momentum Chainlink has gathered and its market behavior positions it as a frontrunner in the anticipated altcoin rally. At press time, LINK is worth $14.9, having increased by 3% in the past day. Michael predicts a massive surge in Chainlink’s price, potentially reaching around $25.
Focusing on ARB, van de Poppe pinpoints specific entry points for investors. He anticipates that a breakthrough above $1.06 could propel the token from $1.50 to $1.80, marking a substantial increase.
He notes its upward trajectory for SAI, identifying potential entry regions around $0.30, with a bullish outlook towards a $0.60 target. These predictions are based on current market analysis and Sai’s recent performance.
Bitcoin on the Spotlight
Van de Poppe also addresses Bitcoin’s status at a crucial resistance point. He outlines potential scenarios for Bitcoin, including a possible rally to between $45,000 and $50,000, followed by a correction. This movement in Bitcoin, he suggests, will have a ripple effect on the altcoin market.
The expert confidently says that he believes Bitcoin will end the year at nothing less than $40,000. At press time, BTC is worth $38,005.
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Near Protocol (NEAR)
NEAR rose and closed above the resistance of $1.70 on November 24, and this move indicates a potential trend change in the short term.
The ascending 20-day Exponential Moving Average (EMA) at $1.58 and a positive Relative Strength Index (RSI) signal the current dominance of bulls in the market. A minor resistance is observed at $2, and a successful breakthrough could propel the NEAR/USDT pair to $2.40.
On the flip side, bears may attempt to reverse the momentum by driving the price beneath the established breakout point at $1.72, potentially ensnaring bulls who entered aggressively. In such a scenario, the pair could undergo a decline toward the significant 20-day Exponential Moving Average (EMA), a pivotal level demanding close observation.
If the price falls below this critical level, it would serve as a clear indication of renewed selling activity, signaling that sellers have regained control in the market.
The pair has been sustaining above the breakout level of $1.72, but the bulls have failed to start a strong up-move. This suggests that the bears have not given up and are trying to pull the price back below $1.72.
If they can pull it off, the price may drop to $1.60. If this level gives way, several stops may get triggered. The pair may then tumble to $1.45 and thereafter to $1.28. However, if buyers shove the price above $1.95, the pair may start its march toward $2.10.
Theta Network (THETA)
Theta Network (THETA) is currently establishing support at the 20-day Exponential Moving Average (EMA) at $0.88, following a recent correction in the past few days.
This trend suggests that overall sentiment remains positive, with traders interpreting the recent dips as a favorable buying opportunity. The fact that the price is finding support at the 20-day EMA indicates resilience in the market, and investors seem inclined to consider these corrections as a chance to enter or add to their positions.
The anticipated bounce from the 20-day EMA might encounter resistance at the psychological barrier of $1. If successfully breached, the THETA/USDT pair could gain momentum, propelling it towards $1.05 and subsequently to $1.20. Overcoming this level may pose a significant challenge, yet if surpassed, the pair may advance to $1.33.
Arbitrum (ARB)
In 2023, the cryptocurrency community was abuzz with excitement surrounding the launch of the Arbitrum token (ARB), an event highly anticipated by crypto enthusiasts. The token launch didn’t disappoint, as it came with a massive airdrop, offering participants the opportunity to secure up to 12,000 tokens, equivalent to over $10,000.
Since its launch, ARB coin has shown extensive growth in the crypto market and became one of the top 100 crypto projects shortly after its launch. According to some reports, Ethereum whales dumped billions of dollars of investments in ARB tokens after the launch, and it pushed the price.
ARB prices rallied to an all-time high (ATH) of $11.80 in March 2023. However, since then Arbitrum Coin has been showing a bearish performance and is currently trading at $1.6
The substantial support from major cryptocurrency exchanges further propelled Arbitrum’s rise, quickly establishing it as the second most widely used blockchain network in the crypto space. However, after its initial success, a discordant note emerged when developers expressed an interest in utilizing a significant portion of the project’s funds, a proposal that was met with opposition from the community.
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