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A popular crypto analyst believes September will be a good month for a handful of altcoins, including Cardano (ADA) and XRP.
Michael van de Poppe has told his 624,800 Twitter followers that the long-awaited Cardano update could be the catalyst that pushes ADA to levels not seen since February of this year.
Cardano has a hard fork looming, a beautiful retest of support, and a confirmed double bottom. Targets: $0.55 and $0.75.
At the time of writing, ADA is trading at $0.50, up 2.40% over the past day.
XRP is next, Van de Poppe says the time looks ripe for a breakout against Bitcoin (XRP/BTC).
We narrow down between the 50-day and 200-day moving averages. It looks likely to break above 0.000017 BTC ($0.34) and target 0.000022 BTC ($0.44).
At the time of writing, the XRP/BTC pair is trading at 0.0000166 BTC ($0.33).
Another coin on the trader’s list is the smart contract protocol EOS (EOS). According to Van de Poppe, EOS is likely to revisit the $1.35 support before igniting the next rally to $2.
Avoid chasing the pump, especially in market conditions like this. There will always be retests. There may be further integrations.
At the time of writing, EOS is trading at $1.48, down nearly 3% for the day.
As for peer-to-peer payment network Litecoin (LTC), van de Poppe predicts a slight setback before large-cap altcoins could surge 35%.
Breaking above the 50-day moving average. Looking for strength and continuation here by holding above $59. If so, $80 is next. Old coins are looking good.
At the time of writing, LTC is valued at 60.68, up more than 2% in the last 24 hours.
Last on the trader’s watchlist is Cosmos (ATOM). Cosmos (ATOM) is a blockchain ecosystem designed to scale and communicate with each other. According to Van de Poppe, he is bullish on ATOM as long as it trades above his $11 key support area.
“Very strong on price action. We also see continuation here, and expansion and acceleration likely to occur above $13. Key area to hold is around $11. If that continues, then 17 ~$18”
Cosmos is currently trading at $12.96, up more than 3% on the day.
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Featured Image: Shutterstock/Mia Stendal/Vladimir Sazonov
