A widely respected cryptocurrency analyst says Bitcoin (BTC)’s recent rally may be coming to an end.
Cryptocurrency analyst Michael van de Poppe says His 679,000 followers on social media platform
“Bitcoin will probably top the list and move in a range around ETF approvals.
That range and recent week are signs of strength for the rest of the market to catch up.
Ethereum is likely to rise above $3,000.”
As of this writing, the value of BTC is $42,455, down 3% over the past week. For Ethereum (ETH), the current value of the leading smart contract platform is $2,361.
Looking at polygons (MATIC), Van de Poppe Called ETH Layer 2 scaling solutions have lagged behind other top altcoins such as Solana (SOL) and Avalanche (AVAX).
“We are lagging behind SOL and AVAX, but are starting to gain momentum.
Anything in the $0.89-0.96 region is an excellent entry on the retest.
“I think it will continue towards $1.30.”
MATIC is trading at $1.01 at the time of this writing, up 29% over the past week.
Analysts too breakdown ETH Layer 2 scaling solution Arbitrum (ARB) said the MATIC competitor could explode up to the $2 range.
“I posted some updates on ARB.
The retest of $0.98 worked and it continued to do better all the way to $1.35.
“A beautiful S/R (support/resistance) reversal should hold $1.40 to $1.45 and I think it could continue to $2.”
ARB is worth $1.52 at the time of this writing.
Van de Poppe too peeping He said he expects Ethereum’s rival in smart contract platform Near Protocol (NEAR) to cool off after its recent massive rally.
“It is showing a tremendous upward trend, rising by more than 100%.
Expect a longer period of consolidation before another impulse occurs.
In that sense, we are not interested until we reach <$3.40, after which we are looking for potential entries.”
NEAR is trading at $3.84 at the time of this writing, down 5% in the last day.
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