While Bitcoin continues to consolidate in a narrow range, Michael van de Poppe, who thinks that altcoins are more ready for an increase compared to BTC, shared the levels to be followed in four altcoins with his followers.
Having examined Skale (SKL), Polygon (MATIC), Sei (SEI) and Polakadot (DOT), Poppe evaluated SKL first.
1-Scale (SKL):
Stating that the markets seem troubled, Poppe said that he expects new upward momentum from Ethereum for SKL.
“I'm probably looking forward to new momentum from ETH.
In this case, SKL is doing well and holding on strongly before getting back on its feet.”
2-Polygon (MATIC):
The successful analyst said that the picture was embarrassing for MATIC, one of the few favorite altcoins. Stating that MATIC has significantly underperformed, Poppe stated that he expects the MATIC price to decrease by another 30%.
“The situation at MATIC is absolutely disgraceful.
It greatly underperformed.
“I might be interested if it drops another 30% to see if it turns around from there, but I would say there are different, better opportunities out there.”
3- Sei (SEI):
Stating that Sei shows tremendous strength, the analyst expects investors' interest in SEI to increase as it has fallen approximately 60% from its peak.
“There is tremendous strength in the SEI and it is also one of the most declining.
“SEI is down 60% from the previous high, which is of significant interest to investors.”
4- Polakadot (DOT):
Stating that Polkadao experienced a rapid rise and fall, Poppe said that it would take some time for DOT to rise again and that his target was 20 dollars for the third quarter.
“Polkadot had a significant spike but was corrected backwards.
From here it usually takes a while for the next leg to occur upwards.
“Strong response, we expect to see $20 in the third quarter.”
Request 04 – $DOT
Significant run upwards on Polkadot, but corrected all the way back.
From here, it usually takes some time before the next leg upwards will happen.
Strong reaction, expecting to see $20 in Q3. pic.twitter.com/f97RzJSxaB
— Michaël van de Poppe (@CryptoMichNL) April 23, 2024
*This is not investment advice.
