An analyst closely followed in the crypto space says that one altcoin operating on the Ethereum (ETH) blockchain is ready to run, and has updates on three other digital assets.
Michaël van de Poppe tells his 647,000 Twitter followers that Ethereum scaling solution Polygon (MATIC) is likely presenting an opportunity for a 60% gain if it provides the right entry at around $1.
“This looks ready to break upwards significantly.
Would be interested in buying around $1 for a retest and then it could run towards $1.60 quite easily.”
The analyst also has his radar locked on Ethereum competitor Avalanche (AVAX). According to Van de Poppe, AVAX bulls may want to wait for about a drop to a demand level near $17.50 before going long on the smart contract protocol.
“Same point here. We could be looking at a case of continuation, but you’d definitely don’t want to chase the trade. Entries around $17.50 are doable.”
Next on the trader’s radar is decentralized exchange protocol Injective (INJ). Van de Poppe says that INJ, which is already up about 40% in the last seven days, may not present any playable opportunities until it corrects to $2.30 or to $2.08 for longer-term trades.
“Strong runner here, but points of interest are a bit lower.
I’d be interested for a bounce play at $2.30 and for swing plays at $2.08″
Lastly, Van de Poppe looks at Verasity (VRA), an Ethereum-based altcoin focused on serving the e-sports, gaming, non-fungible token (NFT) and video economies. He says that while VRA looks very strong, bulls should wait for a roughly 40% correction down to the $0.004 range before opening a position.
“This one looks strong and made a massive 250% run already.
Through that, I’d be patient on entering honestly.
You’d be interested once a correction takes place towards $0.004.
That’s the region for me before a new expansion upwards happens.”
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Source: https://dailyhodl.com/2023/01/30/top-analyst-says-one-ethereum-based-altcoin-is-ready-to-break-out-updates-outlook-on-three-additional-altcoins/