Prominent crypto strategist and trader Michaël van de Poppe is keeping a close watch on four altcoins this month that he says are on the verge of huge breakouts.
In a new video, Van de Poppe tells his 107,000 YouTube subscribers that number one on his list is decentralized finance (DeFi) yield aggregator DFI.money (YFII).
According to the crypto trader, YFII is likely to ignite a breakout in its Bitcoin pair (YFII/BTC) as it threatens to take out its immediate resistance.
“[The] crucial breaker that we are facing is the resistance zone over here (0.063). This one has been tested several times and couldn’t break yet. But given the amount of tests that we have been seeing here which is going to be the fourth one right now, it is very likely that we’re going to break through it in one go. And then, a new impulse wave can start.”
Van de Poppe highlights that a break above 0.063 may take YFII/BTC to as high as 0.099, marking a potential surge of 62% from its current price of 0.061.
Next up is smart contract platform TomoChain against Bitcoin (TOMO/BTC), which the crypto analyst says could see significant gains after a breakout.
“If it holds this block (0.000043) or starts to hold the 100-day [and] 200-day MA (moving averages), a flip and continuation is likely. Given the fact that TOMO has been testing those resistance levels (0.000051) many times now, the next test is granting us a breakout in general. Therefore, the next target zone is the area around 7,500 satoshis (0.000075).”
Another coin on the trader’s radar is decentralized cross-chain money market Kava.io (KAVA). According to Van de Poppe, KAVA/BTC is gearing up for a strong breakout as it approaches a key resistance area.
“I think we’re continuing towards the resistance zone (0.000144), flip the level around 0.000122 and then the next rally towards 23,000 satoshis (0.00023) and a new impulse wave is most likely going to happen.”
The last altcoin on the crypto strategist’s list is Algorand, a cryptocurrency for payments and a blockchain for decentralized finance applications. Van de Poppe says ALGO/BTC must hold its immediate support for a shot at launching a 69% rally.
“If Algorand sustains support above 2,300 satoshis (0.000023) and breaks through the resistance at 3,000 satoshis (0.00003), I think we can continue the momentum in general on this one, and we can start targeting the resistance zone at 3,900 satoshis (0.000039).”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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.
Featured Image: Shutterstock/GrandeDuc