In recent months, there have been several successive downward movements in the ether (ETH) market. But analysts think now is the right time for a rise in the second-biggest crypto. Recently, crypto analyst Michaël van de Poppe shared with the community his observations on the Ethereum market.
An altcoin ready to jump in the next few days?
Recently, crypto analyst Kaleo predicted an outperformance of Ethereum against bitcoin. Two days ago, the second-largest cryptocurrency by market capitalization recorded a 5% rise. On the same day, Poppe indicated in a tweet that he expects a short-term rise in ether. According to him, ” $1,190 would be a good level for longs on ETH “. He added that he expects the crypto to reach “ $1,200 as another level “. Speaking of which, Ether is currently trading around $1,200.
On December 21, in a another tweetMichaël van de Poppe explained: “ We are still waiting for a scenario like this on ETH, in which we will probably retest before continuing “. The crypto analyst clarifies that “ positive signs have appeared in the markets in recent days “. However, he remarks that there is ” no continuation “, due indices, like the DXY, that show weakness.
Michaël van de Poppe is bullish on FET
FET is an altcoin that was designed for the system Fetch.ai. The latter is a decentralized platform aimed at making the operation of certain applications more efficient. According to analyst Poppe, the Ethereum-based crypto FET is gearing up for a rally.
” I’m still waiting for the lower levels to be filled on FET “, he said. For the analyst, the Ethereum-based altcoin could drop 15% before going long.
Poppe believes that technically, the markets have been in a bear market for 19 months already “. ” Especially altcoins, these have been collectively crashing since May 2021, despite the cycle of SOL and MATIC “, he underlined. Note that many crypto players are expecting a lot of market sell-offs soon. This will obviously lead to lower prices. For the analyst Poppe, ” the bears are in full euphoria right now “.
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