A popular crypto trader is eyeing three altcoins that could mimic Solana’s recent historic rise.
Solana (SOL) has climbed to the sixth-ranked cryptocurrency, according to CoinGecko. Currently trading at $175, the smart contract platform is up more than 600% from its July low of $23.47.
Crypto trader and market analyst Michaël van de Poppe is keeping close tabs on decentralized blockchain platforms Tezos (XTZ), Polkadot (DOT), and Cosmos (ATOM) after SOL’s breakout to a new all-time high.
He tells his 123,000 YouTube subscribers ATOM looks ready to run based on its underlying market structure.
“If I would have to choose a coin that’s going to follow Solana and it has to be a layer-one solution, it’d either be Tezos, Polkadot, or it’s going to be Cosmos, and given the structure, it looks amazing.”
Van de Poppe says that ATOM is trading within a two-year accumulation period against Bitcoin and that he’s looking for a retest of the 0.00051 BTC level ($22.88) after the token began trading in an uptrend against BTC in August.
As for where ATOM is headed next, Van de Poppe is paying attention to two key price levels.
“Nice retest off the ($17.47) level, regained everything that it lost in the crash a few days ago, and I think that we’re going to continue moving and we’re going to break the highs through which the next target zone I am looking at for Cosmos is $47.50 and $72.”
At the time of writing, ATOM is trading at $26.98, according to CoinGecko.
ICheck Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
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 loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Alexandr III