Crypto analyst Michaël van de Poppe believes that one low-cap altcoin that has printed close to 9x gains this year is gearing up for bullish continuation.
Van de Poppe tells his 667,600 followers on the X social media platform that Kaspa (KAS), a layer-1 proof of work cryptocurrency, “looks ready for a new leg up.”
The widely followed crypto analyst says that if his bullish thesis for Kaspa materializes, the crypto asset could appreciate by around 41% from the current price to reach a new all-time high of $0.068. According to Van de Poppe, Kaspa needs to turn the resistance around the $0.049 level into a support zone to continue the long-term upward trend.
KAS is trading at $0.0479 at time of writing, up by around 788% from its price of $0.00539 recorded at the start of 2023.
If the crypto market turns bearish instead, the widely followed crypto analyst and trader says his area of interest would be up to 24% below the current level.
“If markets are showing weakness, I’d be interested between $0.036 – $0.04.”
Turning to the native token of the decentralized graphics rendering platform, Render Network (RNDR), Van de Poppe says that he’s also expecting the altcoin to continue rallying. According to the analyst, a breach of RNDR’s immediate resistance will likely ignite breakout rallies.
“This one, I’m personally expecting bullish continuation to be happening.
In that regard, I’d prefer a break above $1.65 and then we’re looking for expansion and continuation.
Targets of $2.50-3.00 are reasonable.”
RNDR is trading at $1.53 at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, 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 losses 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.
Generated Image: Midjourney
