Crypto analyst Michaël van de Poppe is tracking the prices of five low-cap altcoins he thinks could break out.
Van de Poppe tells his 320,900 Twitter followers that the scalable blockchain network Elrond (EGLD) will likely bounce off a major support level en route to an all-time high.
[adinserter block="1"]“Quite following this old chart and path. Pretty fine. Crucial resistance zone found around 3000-3200. Crucial support to hold around 1700-2100. Probably continuing the bull cycle too.”
EGLD, the 59th-ranked asset by market cap, is trading at $116.21 at time of writing and is up 19% in the past 24 hours, but it’s down more than 20% on the week, according to CoinGecko.
Van de Poppe is also tracking the smart-contract platform Fantom (FTM). FTM, the 97th-ranked asset by market cap, is trading at $0.35 at time of writing and is up 18.3% on the day but down 46.7% on the week.
“This one crashed heavily after a big surge, like most altcoins. I’m expecting that we’re holding here, as we’ve reached a crucial area. Resistances also lined out, those need to break.”
Next on the trader’s list is the blockchain platform Zilliqa (ZIL), which is trading at $0.12 at time of writing and is up 23.2% on the day but down 27.7% on the week, according to CoinGecko.
He’s expecting a big rally as long as support holds.
[adinserter block="1"]“Structure lost, like on many altcoins. Has to break back above 295-300 sats for continuation. A crucial area to hold; 220-240 sats.”
Van de Poppe notes that the decentralized public network Hedera Hashgraph (HBAR) has been doing quite well.
HBAR, the 54th-ranked asset by market cap, is trading at $0.264894 at time of writing. It’s up 8.5% on the day but down more than 20% on the week.
“This one actually did quite well. Beautiful bounce from the 480 sats area and made new highs. Area around 560 sats I’d prefer to see holding for continuation.”
The analyst notes that Telcoin (TEL) could break to new all-time highs.
TEL, a crypto project designed for mobile operators, is trading at $0.03777476 at time of writing and is up more than 30% in the past 24 hours. It is down 10.4% on the week, according to CoinGecko.
“This one made a massive crash but immediately bounced back. The critical area found around 5000-5500. If that holds, another attack of the 7700-8300 sats range should happen. Breaking that -> New ATH’s.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Dario Lo Presti/Liu zishan
