Top crypto analyst Michael van de Poppe says leading smart contract platform Ethereum (ETH), two rivals, and one additional altcoin are ready to ignite a breakout rally looks like.
In a new strategy session, Van de Poppe tells his 166,000 YouTube subscribers that Ethereum is currently testing the strength of immediate resistance at around $1,700.
If Ethereum bulls remove resistance, van de Poppe sees Ethereum rising more than 46% from its current price.
“The fun part starts when Ether breaks this high … if it holds above $1,660 and then holds high again to test and if it breaks through the $1,780 high, then all those highs ($2,000 ) would be mostly acceptable.
At the time of writing, Ethereum is worth $1,640.
Another altcoin on the trader’s list is Smart Contract Protocol Avalanche (AVAX). According to Van de Poppe, AVAX has him 1 resistance away from starting a massive surge of 79%.
“We are testing the high range again ($26). If it breaks out, it will be the same as Ether. It’s even possible.”
At the time of writing, AVAX is trading at $23.41.
Next up is Polkadot (DOT), an interoperable blockchain. Van de Poppe believes that while DOT could sustain its bullish momentum in the short term, other altcoins offer a better risk/reward ratio.
“Maybe it will accelerate pretty quickly here. I think maybe the next retest is at $9.
DOT is currently trading at $8.17.
The final altcoin on analysts’ radar is CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance.
“If we want to continue here, we probably want to test the previous highs, so if there is a correction… we see $1.33 for testing and continue towards $2.”
As of this writing, CRV is trading hands at $1.33.
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