Analyst and trader Michaël van de Poppe is flipping bullish on one layer-1 protocol following a massive correction.
Van de Poppe tells his 772,700 followers on the social media platform X that NEAR, the native cryptocurrency of Near Protocol, could surge to $20 within months, a 500 increase from its current value.
-->“Pretty ideal spot for NEAR. It took all the liquidity beneath the lows and seems to have a strong weekly candle. If this is the liquidity sweep, then next target is $15-$20 in the next three-six months.”
Source: Michaël van de Poppe/XNEAR is trading for $3.33 at time of writing, up 5.6 in the last 24 hours.
Next up, the analyst says Bitcoin (BTC) may trade sideways until it can break through the resistance level at its all-time high of around $108,000.
“Anyways, Bitcoin stuck in the range, the real inflection will occur once it breaks ATH. For now, just consolidation before the next leg up.”
Source: Michaël van de Poppe/XBitcoin is trading for $97,787 at time of writing, up 1.1 in the last 24 hours.
Lastly, the analyst says that Ethereum (ETH) may be forming a bullish divergence on the weekly chart against Bitcoin (ETH/BTC).
A bullish divergence, which suggests price will start to increase, occurs when the price of assets records lower lows while indicators, such as the Relative Strength Index (RSI), a momentum oscillator indicator, are witnessing higher lows.
“Next week is going to be a massive week for ETH. If this closes in such a wick and next week ETH goes back above 0.03, the bullish divergence is valid.”
ETH/BTC is trading for 0.02753 BTC ($2,692) at time of writing, down 1.82 in the last 24 hours.
