Crypto Analyst Foresees Altcoin Rally And Sets Crucial Bitcoin Support Level
Well-known crypto analyst Michaël van de Poppe has predicted a potential surge in the altcoin market, following a period of stagnation. The analyst has also identified a critical support level for Bitcoin (CRYPTO: BTC) to maintain its upward trajectory.
What Happened: Van de Poppe suggests the altcoin market is poised for an upswing after hitting a low.
The analyst shared with his 751,700 followers on X that the OTHERS chart, which monitors the market cap of all cryptocurrencies except the top 10 coins and stablecoins, is showing a bullish pattern on the weekly timeframe.
“The altcoin market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we’re likely just making a higher low here. Onwards and upwards,” he said.
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