Bitcoin
With Bitcoin in a ‘Low Range’, Crypto Analyst Picks Two ‘Promising’ Altcoins for Traders to Watch
A widely followed crypto analyst says Bitcoin (Bitcoin) needs to maintain current price levels or face a precipitous drop.
Crypto trader Michaël van de Poppe it says his 717,100 followers on the X social media platform that BTC could potentially drop by $10,000 in value if current levels are not maintained.
“Bitcoin is in the low range. This is technically the area where you prefer it to hold, so the upward momentum continues and the range holds.
If this does not hold, we can expect between $52,000 and $55,000 as a potential low in this correction.”
Source: Michaël van de Poppe/X
BTC is trading for $61,966 at the time of writing, up 5% on the week.
The analyst to follow smash AIOZ Network (AIOZ), a blockchain project that seeks to embed itself at the intersection of Web3, AI, storage and streaming.
“This looks very promising and is one of the strongest trending assets.
Trend level to hold: $0.65-0.68.
If this is lost, then the long-term investment region comes into play.
If we maintain the trend, I expect $1.35-1.45 could appear next.
Very strong.
Source: Michaël van de Poppe/X
AIOZ is trading for $0.853 at the time of writing, up 10% on the day.
Van de Poppe too look at the decentralized finance (DeFi) protocol Injective (INJ). Although INJ has fallen a lot since December, Van de Poppe says the altcoin has plenty of room to run.
“The hype disappeared and it fell 70% against Bitcoin.
An excellent example of rotation.
It peaked on December 23.
Bitcoin has seen a 70% increase since then, INJ a -40% increase.
Never marry your bag; spin to Bitcoin to earn more Bitcoin.
An attractive area for a long time.”
Source: Michaël van de Poppe/X
INJ is worth $23.69 at the time of writing this article.
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Featured image: Shutterstock / Kiselev Andrey Valerevich