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Popular crypto analyst Michaël van de Poppe is updating his outlook on XRP, Fantom (FTM), Aptos (APT) and two other altcoins.
Van de Poppe tells his 646,200 Twitter followers that XRP must hold a key support level or it may see significant downside potential.
“Now, I’d like to see $0.395 hold as support. If not, then I’d be looking at $0.350 next.”
At time of writing, XRP is changing hands at $0.424, still above Van de Poppe’s support level.
Next, Van de Poppe says that he’s bullish on smart contract platform Fantom but notes that traders should not expect FTM to go up in a straight line.
“This one should provide continuation in the coming week, but preferably I’d be cautious here too.
Aggro entry zone is around $0.340, which is a must-hold [level].
Did give a bounce already. Conservative long approach around $0.305.”
At time of writing, Fantom is valued at $0.408.
Another altcoin on the trader’s list is smart contract protocol Aptos.
Van de Poppe says APT is likely to cool down after its rapid price surge, shooting up more than 275% from its low of $3.44 at the start of the month.
“This one has been accelerating quite fast, and I’m getting comments whether it can reach $360 this year. Time to be conservative on this asset.
Aggro entry approach – $11.25.
Defensive entry approach – $8.25-$9.00.
Going to be an incredibly interesting market.”
Aptos is switching hands for $12.94 at time of writing.
Lastly, Van de Poppe looks at two other altcoins: next-generation video-sharing protocol Verasity (VRA) and move-to-earn token STEPN (GMT).
He says VRA is likely to correct after its immense rally.
“Massive run of almost 300% since the low. Mentioned this one earlier on socials, if you wanted to get in, the area around $0.0025 was the one. Now, it’s time to become cautious. DCA (dollar-cost averaging) around $0.004 makes sense if it gives.”
At time of writing, Verasity is trading for $0.006.
Looking at GMT, Van de Poppe says he’s waiting for the altcoin to hit his levels of interest.
“Two points of interest on this one. The area at $0.35 and the area at $0.45. Let’s see which one hits.”
GMT is trading for $0.588 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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