A leading crypto analyst says the booming rally of Cosmos (ATOM)-based altcoin THORChain (RUNE) isn’t finished making some noise.
THORChain has been on a tear for the last month, rising 147% from $4.85 on March 1 to $11.99 at time of writing.
[adinserter block="1"]Despite RUNE’s incredible gains, leading crypto analyst Michaël van de Poppe tells his 579,500 followers in a tweet that THORChain still has some gas in the tank.
“I think we’re going to see a continuation towards $14.50-15 on RUNE here.”
In general, the analyst says altcoins like RUNE are overdue for the next bullish cycle, which he thinks will be even heavier than the bull cycle in 2021.
“Altcoins had a year-long bear market. Most of them. I think they are done with that and we’re close to a new cycle…
One thing is sure, 2021 cycle was crazier than 2017 in terms of size and growth of adoption. Next one will be heavier.”
Moving on to layer-2 scaling solution altcoin Polygon (MATIC), the analyst says MATIC may drop a bit before rebounding.
“I’m still potentially looking at this level for MATIC.”
Looking at enterprise-solutions blockchain VeChain (VET), the analyst believes the altcoin’s bullish divergence is almost complete, which could trigger another leg up for VET.
“Tweeted about VET earlier and the reclaim happened. Since then, run of around 20%, which is great. Bullish divergence also completing here.”
Finally, Van de Poppe charts high-throughput blockchain Zilliqa (ZIL), up 20% in the last 24 hours. The analyst warns traders to avoid chasing the asset up 340% in the past month alone.
“Shared this one earlier, in which it was on higher timeframe support.
Now it’s up 500%, Zilliqa. Wouldn’t rush into a position here at all. A correction will come and is inevitable. Don’t chase hype.”
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