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- Crypto Trader Michaël van de Poppe Says Low-Cap Altcoin Primed To Rally, Updates Outlook on Bitcoin and Ethereum
Crypto Trader Michaël van de Poppe Says Low-Cap Altcoin Primed To Rally, Updates Outlook on Bitcoin and Ethereum
One widely followed crypto analyst says one low-cap artificial intelligence (AI) token is poised to come to life.
Crypto trader Michaël van de Poppe tells his 722,600 followers on the social media platform X that the 346th-largest crypto by market cap, Covalent (CQT), is primed to rally.
“CQT is currently back to the levels of November 2023.
A harsh correction since the peak in February.
Expecting to see the price of Covalent rally up significantly, since their recent new updates.”
CQT is worth $0.163 at time of writing, up 2.2% on the day.
“This would likely be the case for Bitcoin.
Preferably we sweep the $60,000 area where a bullish divergence kicks in.
Reversal coming from next week with the impending Ethereum ETF (exchange-traded fund) listing.”
BTC is worth $61,487 at time of writing, up 0.8% in the last 24 hours.
Moving on to Ethereum (ETH), the analyst says ETH is in for a tough “grind” upward against BTC (ETH/BTC).
“From a technical standpoint, ETH has been holding a crucial level for support.
I think we’ll continue to grind upwards from here.
If it can get towards 0.06 BTC ($3,690), then I’m assuming we’ll see a big breakout & Altcoin strength for the remainder of the year.”
ETH is worth $0.056 BTC ($3,444) at time of writing, down 2.3% on the week.
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