Michaël van de Poppe, a prominent crypto analyst known as on X, has shared his latest insights on the market, signaling a potential major move for Ethereum (ETH) and outlining his broader market cycle theory.
]According to van de Poppe, Ethereum (ETH) is currently “looking for a big breakout.” He notes that ETH has undergone “a strong consolidation of more than a month” following its initial 90% upward move. This consolidation period suggests a build-up of energy for the next significant price action.
Van de Poppe projects a clear target: “I assume we’ll start to see a leg to $3,400-$3,500 if it breaks the resistance at $2,800.”
This technical level is crucial for unlocking further upside. Conversely, he identifies $2,575 as the critical “area to hold,” suggesting it as a key support level to prevent a deeper correction.
The Crypto Cycle: Bitcoin Leads, Altcoins Follow
Van de Poppe reiterated his consistent market theory, which outlines a typical progression of asset performance within the crypto market:
- Bitcoin (BTC) moves upwards.
- Bitcoin consolidates.
- Ethereum (ETH) starts to follow.
- Altcoins outperform Ethereum.
This sequential movement suggests that following Bitcoin’s recent strength and consolidation, Ethereum is now positioned to see its next significant leg up, potentially followed by a broader altcoin rally.
The analyst observes that “we’re currently seeing more momentum coming from DeFi & Ethereum ecosystem projects,” which he considers a “strong sign.” This shift in momentum points towards increasing investor appetite for higher-risk, higher-reward assets within the decentralized finance and broader Ethereum ecosystem. His overarching conclusion: “Risk-on is the game.” This implies that investors are increasingly willing to take on more risk in pursuit of greater returns within the crypto space.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/ethereum-primed-for-breakout-altcoins-to-follow-bitcoins-lead-says-top-crypto-expert/