Crypto strategist and trader Michaël van de Poppe is outlining the levels where Ethereum, Theta Network, Terra and two more altcoins could stage the next leg up.
The crypto analyst tells his 361,300 Twitter followers that he’s looking at two critical levels for Ethereum where bulls may step in to drive the price of ETH higher.
“Ethereum is changing the trend here too, with a new higher high. I don’t think we’ll continue, but if we sustain above $2,400, then $3,000 is next. If that area at $2,400 is lost, then I’d be looking at a HL (higher low) around $2,000-$2,200.”
Another coin on Van de Poppe’s radar is Theta Network (THETA), a peer-to-peer distribution platform for video content. According to the crypto strategist, THETA could surge to his target price of $8.55 if the altcoin clears its immediate resistance at $6.50. Otherwise, a bullish higher-low setup is in play.
“This one is also at resistance, through which you’d want to become interested at the flip of $6.50 or when it comes back down at $4.40.”
The next coin on the trader’s watchlist is decentralized finance payment network Terra (LUNA). Van de Poppe says LUNA looks “very, very bullish” but says the altcoin could retrace to key levels before resuming its ascent.
“Since the lows, [it is] up almost 200%. However, that’s not a point of interest for me as it’s also seeking resistance (could run to $14.55). Looking at $8.50 as a potential first point of interest.”
The fourth coin is decentralized exchange protocol THORChain against Bitcoin (RUNE/BTC). Although the pair has rallied, Van de Poppe notes that it is now facing resistance and could pull back before launching a new rally.
“People were bearish at the lows. People are bullish at resistance. Beautiful example. Wouldn’t long here, only when we flip the 16,500 sats level (worth $6.44). Otherwise, looking at the range at 11,900 ($4.65) and/or 9,500 ($3.71) again.”
The last coin is blockchain for enterprise solutions Zilliqa against Bitcoin (ZIL/BTC). According to Van de Poppe, ZIL/BTC is poised to reverse its trend and surge as high as 0.0000035 BTC, worth about $0.14 at time of writing, representing potential gains of nearly 50% from its current value of 0.00000206 BTC ($0.08).
“Still bouncing from a heavy weekly order block. Clear resistance at 270 (0.0000027 BTC or $0.11) and 350 (0.0000035 BTC) sats.
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Source: https://dailyhodl.com/2021/08/03/ethereum-theta-network-terra-and-2-more-altcoins-could-rally-from-these-crucial-levels-michael-van-de-poppe/
