A popular crypto strategist has expressed optimism about Avalanche (AVAX), a competitor to Ethereum (ETH), and believes it may see an upward movement.
Trader Michaël van de Poppe, who has a significant following of 660,000 on Twitter, suggests that AVAX appears to be in a bullish position after briefly surpassing the resistance level of $14.
Van de Poppe further adds that Avalanche may undergo a cooling-off phase before launching into the next upward trend.
“Great move here, breaking through previous highs. Swept all the highs, so some consolidation seems likely. In that regard, areas at $12.70-$12.95 are potentially for buying the dip towards $16.”
Currently, AVAX is being traded at $13.33. Moving on to Zilliqa (ZIL), which is a blockchain specifically designed for business solutions.
According to Van de Poppe, ZIL may experience a decline to approximately $0.018 after seeing a 60% increase in value within a month.
“Good move on ZIL earlier, as we took out all the highs.
That’s why I’ll be waiting for these lows and then start investigating for longs.”
Currently, the value of ZIL stands at $0.019.
According to Van de Poppe, for Litecoin (LTC), the peer-to-peer payments network, to have a chance at rallying before its next halving event in August, it needs to maintain a position above the 200-week exponential moving average (EMA).
“We are looking at a case that we are currently retesting the 200-week EMA and that we are surely looking at a case to hold here if we want anything to continue to pursue in order for Litecoin going into the halving.”
According to crypto analytics firm Santiment, Cardano (ADA) which is a competitor to XRP and Ethereum (ETH), may experience a surge in value as a bullish signal has emerged.
Santiment notes that many traders are currently selling their XRP and ADA holdings at a loss as both altcoins experience a pullback from last week’s rally.
According to the analytics firm, the mild trader capitulation could ignite bounces for XRP and ADA.
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