Crypto analyst Michaël van de Poppe is laying out his forecast for Ethereum (ETH) and several altcoins as the crypto market shows signs of recovery.
The trader tells his 577,100 Twitter followers that after breaching $3,000, Ethereum will face the next resistance level at $3,125.
“Ethereum moving upwards after holding crucial level.
Seems to me that we’re going to test $3,125 next.”
The second-largest coin by market cap currently trades at $3,110.91.
APE, the crypto asset created by the founders of the Bored Ape Yacht Club (BAYC), is currently trading at $13.19. Van de Poppe says that this is a major test region for the altcoin.
“The current way I’m looking at APE. It’s looking decent as we’ve held the area around $10.40 for support + flipped the region of $11.40 for support.
As long as that holds, I’m expecting another rush towards $13 for potential short entries.”
Solana is still down by over 50% of its all-time high value, but Van de Poppe says that the crypto asset could surge up to $130, where it will test its previous support level. At time of writing, the high-performance blockchain is trading for $101.59.
“Might be looking at SOL at $112 or $130 for some resistance tests.”
As for ETC, the trader sees the Ethereum fork as overvalued. The altcoin is now changing hands at $48.32.
“Time to short ETC?”
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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.
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