Popular crypto strategist Michaël van de Poppe is naming two altcoins that he believes must be a part of a dealer’s watchlist.
The extensively adopted analyst tells his 623,200 Twitter followers that whereas good contract platform EOS (EOS) has not too long ago staged a robust rally, he’s nonetheless has his radar locked on blockchain scaling resolution Polygon (MATIC) and Binance’s utility token BNB.
“Apparently, EOS is one in every of the strongest performers currently.
I feel I’d concentrate on MATIC [and] BNB on tendencies, truthfully. BNB is appearing tremendous sturdy and BTC pair retains on working.
The second that DXY reveals weak spot, these will almost certainly take off.”
DXY is an index tracks the worth of the US greenback in opposition to a basket of different fiat currencies. According to Van de Poppe, the DXY appears to be like bullish so long as it’s above 108 factors.
“All eyes are on the USD to interrupt beneath 108 factors once more, as we’ve bought a fake-out. Otherwise, development incorporates and risk-on [assets] could have extra ache.”
At time of writing, the DXY is buying and selling at 108.74 factors.
Looking at the TOTAL chart, which measures the collective market capitalization of all digital belongings, Van de Poppe says that his bullish thesis stays intact regardless of the latest weak spot in the crypto markets.
“The complete market capitalization of crypto continues to be on tempo to create a better low. Would perhaps have a look at $900-$925 billion although, for affirmation. The state of affairs nonetheless stands.”
At time of writing, TOTAL is hovering above $1 trillion.
As for Bitcoin, Van de Poppe says he sees BTC going by means of yet another corrective transfer in keeping with his predicted bullish larger low state of affairs for the TOTAL chart.
“It’s a deep correction on the markets, however crypto stays comparatively secure. One extra sweep of the lows isn’t surprising, and I feel we’re nonetheless comparatively near the low.”
At time of writing, BTC is valued at $21,366, flat on the day.
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https://dailyhodl.com/2022/08/24/crypto-analyst-says-polygon-matic-and-one-more-large-cap-altcoin-are-the-ones-to-watch-right-now/