The trader has highlighted several coins, the rates of which will begin to grow after a brief drawdown

Crypto analyst Michaël van de Poppe calls promising altcoins of September

05.09.2022 - 12:45

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4 min

The material is not an investment recommendation and is published for information purposes only.

What’s new? Crypto analyst and trader Michaël van de Poppe believes that September will be a good month for several altcoins. He added that some coins will start an active growth after a brief drawdown.

Analyst about ADA. Michael van de Poppe said that the upcoming Cardano network upgrade could be the catalyst that will lift ADA to a level similar to that of February. According to him, the asset has an excellent retest of support, allowing growth to the $0,55 and $0,75 marks.

As of September 5, 12:30 UTC, ADA is trading at $0,48, having lost 1,78% overnight, according to Binance.

Analyst about XRP. According to the trader, Ripple's native token of the crypto payment platform is poised for growth. Van de Poppe noted a squeeze between the 50-day moving average (MA) and the 200-day moving average (MA). A break above $0,34 and reaching $0,44 is likely, he said.

XRP is trading at $0,32, down 1,61% overnight.

Moving Average is one of the most commonly used types of technical indicators showing the average value of a cryptocurrency’s price over a certain time period.

Analyst about EOS. The trader also made a prediction about the native token of the EOS smart contract protocol (EOS). According to Van de Poppe, there is a chance that the asset will return to support at $1,35 before it can move to the upside stage of $2.

EOS is trading at $1,43, having lost 3,37% overnight.

Analyst about LTC. As for the token of the peer-to-peer payment network Litecoin (LTC), Van de Poppe predicts a slight pullback before the altcoin potentially begins a 35% rise. The trader added:

The asset “flipped above 50-day moving average. Looking for strength and continuation here by holding above $59. If so, then $80 is next.”

LTC is trading at $59,65, having lost 0,68% overnight.

Analyst about ATOM. Van de Poppe also predicted strong growth for the native token of the Cosmos scaling ecosystem. According to him, ATOM can perform well if it holds above the key support area of $11. The trader added:

“A crucial area to hold is around $11. If that sustains, $17-$18 is next.”

ATOM is trading at $12,64, having lost 1,25% overnight.

On August 20, Michaël van de Poppe warned of a fall in the cryptocurrency market before it starts to rise. According to the analyst, a retest of the 200-week moving average (MA) is possible, as it was during CryptoZima 2018.

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