A widely followed crypto analyst says altcoins are ready for the next big leg up while predicting a huge rally for one Chainlink (LINK) competitor.
In a new thread, crypto strategist Michaël van de Poppe tells his 692,000 followers on the social media platform X that altcoins could double up in the coming months.
-->Van de Poppe says the TOTAL3 chart, which tracks the total market cap of all crypto excluding Bitcoin (BTC) and Ethereum (ETH), appears to have printed a bullish higher low setup at around $450 billion.
“Altcoins are ready to have their next push and could possibly go 2x in the next months. Crucial areas holding, through which a higher low is established and the next push could start.”
Source: Michaël van de Poppe/XAt time of writing, TOTAL3 is trading at $481 billion.
Van de Poppe goes on to say that he believes Bitcoin will rally to the $48,000 to $50,000 level before its April halving when BTC miners’ rewards are cut in half.
After the rally, the analyst predicts that Bitcoin will witness a correction down to $38,000, which he notes will give altcoins the room to make a new run to the upside.
“My general theory is that Bitcoin is consolidating in the coming months. Pre-halving a final run towards resistance at $48,000-50,000, after that another correction to $36,000-38,000 and from there altcoins to continue outperforming Bitcoin.”
Source: Michaël van de Poppe/XBitcoin is trading for $42,686 at time of writing.
Concluding his analysis with Chainlink rival API3 (API3), Van de Poppe says that the decentralized oracle provider is “waking up” and heading toward a price tag of between $4.60 and $4.80 as long as it can maintain its support around $2.50.
“Oracles are starting to fire up, as PYTH and LINK have been showing a tremendous amount of momentum. API3 is also waking up, as we can see with the recent push. As long as it stays above $2.50, I think a rally to $4.60-$4.80 is possible.”
Source: Michaël van de Poppe/XAPI3 is trading for $3.14 at time of writing.
