Trader Believes Altcoins Will Rise More Than 2X in Coming Weeks

Coin Edition
Coin Edition

29 Jun 2023 8:34 AM

Michael van de Poppe predicted in a tweet yesterday that the total altcoin market cap may soar in the coming weeks. Read more on CE....

  • Michael van de Poppe predicts that the altcoin market cap may rise to $225 billion in the coming weeks.
  • A bearish technical flag is on the verge of being triggered on the daily chart for the altcoin market cap.
  • The global crypto market cap dropped 1.31% to $1.16 trillion.
  • The altcoin market cap is currently trading between the 9-day and 20-day EMA lines.
  • The daily RSI line is attempting to cross below the daily RSI SMA line, which could trigger a significant bearish flag.
  • If the bearish flag is validated, the altcoin market cap may drop to the next support level at $95.181 billion.
  • On the other hand, if the altcoin market cap closes a daily candle above the 9-day EMA line, it may move towards the next resistance level at $108.716 billion.

The sentiment of the article is neutral, providing analysis and predictions without expressing a positive or negative bias.

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