Popular analyst Michaël van de Poppe says one low-cap altcoin could see multiple 200% price rallies in the coming months amid surging volatility in the crypto markets.
Van de Poppe tells his 609,200 Twitter followers that he’s looking at Fetch.ai (FET), a platform that aims to bring together technologies such as machine learning, artificial intelligence and blockchain.
According to the crypto strategist, he sees FET carving out a tradeable bottom in the coming months before breaking out of a wide range by 2023.
“Assuming we’ll get a scenario like this, I’d be interested in a long around $0.11 for a quick 2-3x rally (which I still think we’ll be seeing in the summer).”
Looking at Van de Poppe’s chart, he sees FET rallying from around $0.11 to above $0.30 between July and September before printing a bullish higher-low setup at $0.14 in November and surging above $0.40 in early 2023.
At time of writing, FET is trading at $0.113, close to Van de Poppe’s bottom target.
Another altcoin on the trader’s radar is Elrond Gold (EGLD), a blockchain platform designed to power distributed apps, enterprise use cases and crypto transactions. Van de Poppe says EGLD could establish a temporary bottom around $40 and generate a short-term bullish reversal signal.
“Bullish divergence needs to confirm before any heavy longs can be taken. In that case, we might be looking at $40-$42.”
At time of writing, EGLD is changing hands for $44.69, down over 11% in the last 24 hours.
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