Trader Says AI-Focused Altcoin Gearing Up for Big Breakout, Updates Outlook on XRP, Stellar and Fantom
A widely followed crypto strategist says he has his eye on one low-cap altcoin that he believes is setting up for a move to the upside.
Trader Michaël van de Poppe tells his 661,000 Twitter followers that the decentralized machine learning network Fetch.ai (FET) could witness strong rallies if it manages to take out its immediate resistance at $0.25.
According to Van de Poppe, the breakout rally could send FET soaring by over 80%.
“This one is on the boundaries of a big breakout. Breaking through $0.25 and I think $0.45 is next.
Definitely one to watch. AI (artificial intelligence) is back?”
At time of writing, FET is worth $0.22.
Next up is the cross-border payments solution XRP. According to Van de Poppe, XRP is currently trading within a wide range, and he plans to accumulate the altcoin if it drops to its range lows or if it retests its current resistance as support.
“The game plan is simple. In this range, I don’t see the reason for jumping on trades. I’m looking at a sweep at $0.66 for swing longs or a clear reclaim at $0.825.”
At time of writing, XRP is worth $0.73.
Another altcoin on the trader’s list is the XRP challenger Stellar (XLM). Van de Poppe says he’s waiting on XLM to pull back to its immediate support before accumulating long positions.
“This one is unchanged. Heavily interested around $0.14 for at least a bounce play. Momentum is up and that probably stays like that for now.”
At time of writing, XLM is trading for $0.155.
As for the smart contract platform Fantom (FTM), Van de Poppe says that he’s looking at two scenarios before flipping bullish on the Ethereum (ETH) rival.
“Difficult one, with the recent news. Might grant a buy opportunity if markets tumble down some more. Looking at a case of hitting the longs at $0.19-$0.21 in case of a sweep. Reclaim $0.28 is another trigger.”
Fantom recently suffered a setback due to the exploit of the cross-chain bridge Multichain to the tune of $126 million worth of crypto assets.
At time of writing, FTM is worth $0.255.
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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/thinkhubstudio/Andy Chipus
