The crypto market has entered September with glitz and glory. A bullish start to the month saw Bitcoin’s rise back to $50K, and Ethereum’s break above crucial resistance. Also, many altcoins such as SOL, ADA, FTT have printed massive gains.
For the month ahead, Popular analyst Micheal Van De Poppe lists out Top 5 altcoins to watch out for. He predicts for the coins to surge moving ahead.
According to the analyst, layer-one projects such as Cardano (ADA), Solana (SOL), and Avalanche (AVAX) are now performing well, and comparable projects will certainly follow suit. Basic blockchain protocols include layer-one projects to help with scalability and functionality.
Van de Poppe says that the layer-one project Cosmos (ATOM) is still within its accumulation range against Bitcoin (BTC), and that once it breaks out of that area, the asset would experience its “first big impulse wave.”
Cosmos is intended to assist developers in the creation of interoperable blockchains that may transact and share data with one another, thereby creating a decentralised internet of blockchains.
ATOM, the project’s native asset, is currently trading at $23.76, up by 30% in the last week, according to CoinGecko.
Next up is the Mina Protocol, which describes itself as a “lightweight” blockchain platform. MINA, the project’s native asset, is currently trading at $3.99 and has gained approximately 47.1% in the last seven days.
The next levels that we should be looking at for MINA, according to the analyst, are $5.30 and $8.00.
The analyst is also interested in Chainlink (LINK), a decentralised oracle platform that, according to him, “isn’t accomplishing anything at all yet.”
The native asset of Chainlink, LINK, is currently trading at $30.99, up roughly 24.9% in the last 7 days. According to the expert, LINK has been underperforming Bitcoin and is due for a new impulsive wave against BTC.
He says, the underperformance of oracles demonstrates that there is a significant opportunity in the oracle area. The simplest, or most risk-averse, way to get exposure to the oracles is to take a position on Chainlink he adds.
The sharding protocol ONE, which is a native asset of Harmony, comes at fourth on Van de Poppe’s list. According to CoinGecko, ONE is trading at $0.124 at the time of writing, up over 23.7% in the last 7 days.
According to the Van De Poppe, ONE’s favourable price action will likely continue, and the asset will see an impulse wave in terms of its Bitcoin pair.
Tezos, the smart contract platform, ranks last on Van de Poppe’s list. Tezos’ native asset, XTZ, hasn’t witnessed any bullish movement against Bitcoin this year, according to the him.
He claims that if the asset breaks over its current resistance, it might double in value when compared to BTC.
XTZ is trading at $5.39 at time writing and is up nearly 20.1% in the last 7 days according to Coingecko.