Analyst Michaël van de Poppe Predicts ‘Massive’ Crypto Breakout, Says Altcoins Gearing Up for Next Big Rally
dailyhodl.com 29 July 2024 07:41, UTC Widely followed analyst and trader Michaël van de Poppe believes crypto is on the verge of a big burst to the upside.
Van de Poppe tells his 721,600 followers on the social media platform X that the total crypto market cap chart (TOTAL) is gearing up to take out its last resistance level at $2.66 trillion.
The trader shares a chart suggesting that TOTAL is in a strong uptrend buoyed by bullish higher-low setups.
“The total market capitalization of crypto is showing a massive, bullish chart.
Within two-three months from now, we’re going to break through the all-time high and never come back again.
It’s going to be fun.”
At time of writing, TOTAL is hovering at $2.410 trillion.
Van de Poppe is also looking at the market cap of altcoins using the TOTAL3 chart, which tracks the overall valuation of crypto excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins.
According to the trader, TOTAL3 is en route to shatter its crucial resistance area at around $800 billion.
“It was a harsh week for several altcoins, however, the altcoin market capitalization has seen a 4% correction.
The entire correction is over and this is just a build-up before the next big upward breakout above $800 billion takes place.”
At time of writing, TOTAL3 is trading at $641.572 billion.
Generated Image: DALLE3
