Crypto analyst Michaël van de Poppe outlines what’s next for Cosmos, Aave, Elrond and two Ethereum rivals

Crypto analyst Michaël van de Poppe outlines what’s next for Cosmos, Aave, Elrond and two Ethereum rivals

A popular analyst is digging into the charts to update his price targets for a handful of leading crypto assets.

Michael van de Poppe first He says his 622,600 Twitter followers that he is keeping a close eye on support levels for the scalability and interoperability ecosystem Cosmos (ATOM), which recently relinquished gains from the latest leg of a protracted rally dating to mid-June.

“At massive support levels here, which is reasonable for long entries.

If this one misses, I’m looking for $8 next.

Hold here = potential trigger towards $18-20 in the next month.”

Font: Michael van de Poppe/Twitter

At the time of writing, Cosmos is down 8.59% in the last 24 hours and is priced at $10.83.

Moving on to the Aave Crypto Lending and Lending Protocol (AAVE), the crypto strategist He says which in light of the recent market wide correction sees the altcoin as a candidate for range trading with support at $80 and resistance at $103.

“This is trending down as the entire market is correcting.

The falsifying above the resistance and the drop below $103 caused an acceleration of the correction.

Looking at $80-82 for support. Looking at $103 for crucial resistance. Plays within range.”

Font: Michael van de Poppe/Twitter

Aave has been falling in the red all week, currently down nearly 15% on the day and trading at $84.31.

Also on Van de Poppe’s watch list is enterprise-grade blockchain platform Elrond (EGLD), which has been falling steadily since August 10. the analyst is adjustment two levels of support: one at $50 and then at $44 if the first capitulates.

“A significant level of support and confluence across multiple time frames.

Gap has been filled, which was practically the last. The case for a fund around the markets could be there.

Resistance at $57. Break there = new highs. Support: $50 and $44”.

Font: Michael van de Poppe/Twitter

Elrond is down 8.79% and is changing hands for $52.37. The altcoin was trading above $69 just a week ago.

Regarding the Polkadot (DOT) cross-chain interoperability protocol, the crypto analyst believes a rally to $8.40 is possible if $7.70 recovers. However, Van de Poppe precautions on the possibility of DOT losing support at $7.

“Looking for a trigger on this if we recapture $7.70 as then $8.40 is likely to be retested.

Otherwise, the patience game happens, and you will have to see if less than $7 is a trigger for long positions.”

Font: Michael van de Poppe/Twitter

Polkadot price reflects the overall crypto market decline at the end of the week, with DOT currently in the red down almost 12.5% ​​and valued at $7.35.

The latest on Van de Poppe’s radar is EOS (EOS), an open source and decentralized platform whose smart contract capabilities make it a direct competitor to Ethereum (ETH).

In response to the altcoin’s mid-week rally defying broader market trends, which was soon followed by a strong corrective move, trader advise their followers so they don’t go running after the coins they are already pumping.

“Looking at the structure, you should learn a lesson from this recent EOS move. Avoid chasing bombs!

In this case, I would look for a confirmation if we go down to $1.18 and then recover $1.30 for long positions. The same goes for the recovery of the $1.40 area.”

Font: Michael van de Poppe/Twitter

On Tuesday, EOS jumped 27.9% from $1.29 to $1.65, but has since dropped back down. At time of writing, EOS is down 16.24% and is changing hands for $1.27.

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