Cryptocurrency analyst Michaël van de Poppe, known for his extensive following, anticipates a significant surge of around 164% for Polkadot (DOT), a major competitor to Ethereum (ETH). Van de Poppe shared his insights with his followers, highlighting the opportunities presented by the current correction in the crypto market.
According to Van de Poppe, Polkadot (DOT) could experience a rally, targeting the $17 mark. Analyzing the charts, he points out the “crucial resistance” for DOT at approximately $9.39, following a retest of the support level around $5.50 to $6.00. As of the latest data, Polkadot is trading at $6.45.
Shifting his focus to Bitcoin (BTC), Van de Poppe notes that the flagship cryptocurrency is entering the final stages of its correction. Bitcoin is currently in a range between $36,000 and $39,000, with the upper limit of the range just above $51,200. Van de Poppe presented a chart outlining these levels and emphasized the potential for a significant move.
In the context of altcoins, the analyst sees an opportunity amid negative sentiment and double-digit corrections. Van de Poppe suggests that as people may start losing faith post the approval of spot Bitcoin exchange-traded funds (ETFs), and negative news takes the spotlight, it could be an opportune time to accumulate positions. He refers to the current market conditions as a “great, and possibly final dip” for investors.
This analysis by Michaël van de Poppe provides insights into potential price movements for both Polkadot and Bitcoin, offering valuable perspectives for crypto traders and enthusiasts navigating the market.
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