Market Veteran Van de Poppe

Market Veteran Van de Poppe

Seasoned analyst Michaël van de Poppe has recently highlighted a golden opportunity for investors, identifying ten altcoins showing promise amid the latest market correction.

The general downturn has caused multiple digital assets to witness slumps below key support levels. Despite this trend, van de Poppe optimistically views the current phase as an ideal moment to acquire altcoins at discounted prices.

In a recent post on X, van de Poppe pointed out the correction in the altcoin market. Notably, the altcoin market has lost over $2 billion in valuation this month. Its valuation has collapsed from a high of $1.22 trillion on April 1 to the current figure of $1.095 trillion.

 

However, van de Poppe suggests that although this drawdown signifies dip-buying opportunities, the correction has not been significantly large. This hints at the potential for more gains.

He focuses on Bitcoin’s behavior in this context, noting its consolidation phase and peak in dominance. This scenario often precedes a surge in altcoin valuations, especially in their BTC pairings, a pattern familiar from previous cycles.

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With altcoins slumping below pivotal support levels, Michaël van de Poppe views this period not as a setback but as a ripe opportunity for acquiring valuable assets at a discount. 

Chainlink (LINK)

Chainlink, a decentralized oracle network, is at a cycle low, having plummeted by 40% from its recent peak against BTC. LINK surged to a high of $22.89 on March 11 on the back of the market uptrend. However, LINK has collapsed to the current price of $17.4.

This significant drop positions LINK as an attractive buy, according to van de Poppe. This attractive buy opportunity presented by LINK is not only due to its current low price but also for its critical role in the blockchain ecosystem, facilitating secure interactions between blockchains.

Celestia (TIA)

Celestia is a novel player in the scene. Following the TIA airdrop last October, the token spiked 427% to a high of $14.79 in December 2023 before consolidating. TIA further rallied to a new ATH of $21.14 in February.

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However, TIA faced a massive slump as the market collapsed, with van de Poppe stressing that it is now 61% down from its peak. The substantial decline in price may well be the entry point for investors eyeing the next big wave in blockchain infrastructure.

Arbitrum (ARB)

Arbitrum, a layer-2 scaling solution for Ethereum, its native token ARB has been one of the top performers during the current bull phase, reaching a yearly top of $2.42 on Jan. 11. 

ARB witnessed a $2.32 billion unlocking event on March 16, which compounded selling pressure as investors looked to cash in on their holdings. 

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ARB is down 60% from its peak, creating a potential buy-in moment. Its promise of reducing the congestion and high fees associated with Ethereum makes Arbitrum a compelling choice for future gains.

Polkadot (DOT)

With its price currently trading at a cycle low, Polkadot currently presents an attractive buy opportunity. The protocol itself stands out due to its innovative multi-chain architecture, presenting sufficient utility for its token DOT.

The current downturn affecting DOT comes despite the bullish sentiments surrounding the imminent launch of Polkadot 2.0, which aims to further its interoperability and scalability features. 

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DOT currently trades for $8.39, down 29% from its yearly peak of $11.889 attained on March 14. The project’s commitment to a decentralized web positions DOT as a strategic long-term asset.

Cosmos (ATOM)

ATOM, the native token for Cosmos, an interoperability and scalability solution, is also experiencing a downturn. Despite identifying that ATOM is still collapsing further, van de Poppe noted that it shows signs of a bullish divergence on the weekly timeframe. 

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This suggests that despite the current price corrections, ATOM has the underlying strength for a potential uptick, making it an undervalued project ready for pickup. ATOM currently changes hands at $10.78, down from the $14.58 peak.

DYDX (DYDX)

As a decentralized exchange running on Ethereum, DYDX has continued to garner attention from industry participants. Nonetheless, the DYDX token has not been immune to the market onslaught. DYDX trades for $3, down 33% since March 7.

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According to van de Poppe, DYDX is hitting a cycle-low in against Bitcoin, indicating a potential bottoming out. With the decentralized finance (DeFi) sector poised for growth, DYDX’s role in facilitating secure and transparent trading could see its value surge.

Woo Network (WOO)

Michaël van de Poppe also spotlighted Woo Network, a liquidity provider in the DeFi space. WOO, its native token, is also at a cycle low against BTC, with its value down 18.85% over the past two days. 

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Van de Poppe emphasized that he expects to witness massive growth in the DeFi scene. WOO could ride on this anticipated expansion to engineer an impressive push. The protocol’s efforts to offer deep liquidity could translate into substantial price recovery, making WOO a notable contender for investment.

SEI (SEI)

Sei Network, a new layer-1 protocol, launched on the mainnet last August and has seen considerable attention since then. Its token SEI has continued to record new all-time highs during the current market cycle, reaching the latest peak of $1.14 on March 16.

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However, the token has collapsed below $1, currently changing hands at $0.7056. As newer projects often carry a high-risk, high-reward profile, SEI’s ambition to redefine blockchain scalability could well position it as a dark horse in the race for dominance.

Skale Network (SKL)

Skale Network was designed to enhance the scalability of Ethereum. Despite its token SKL following the ongoing market path, it has shown more resilience than other altcoins. Currently trading for $0.1103, SKL is only 11% down from its yearly peak.

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Van de Poppe identified it as one of the assets showing resilience against Bitcoin. Its technical indicators suggest a consolidation phase, with a potential breakout that could see its value increase by 240% to reach the next resistance level. 

Covalent (CQT)

Covalent, a competitor to Celestia, offers a data querying solution for blockchains. With its price more than 40% down against BTC, similar to Celestia, CQT is an attractive investment for those who believe in the data infrastructure space within the crypto ecosystem.

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CQT currently changes hands at $0.2723, down 14.7% this month amid a price collapse that resumed on March 26. Despite the downward momentum, CQT token is up 10% year-to-date (YTD).

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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