As sentiment in the equity market continues to weigh on crypto assets, it is causing cryptocurrencies to continue to suffer.
Michael van de Poppe is a popular crypto trader and analyst. highlightedThere are several altcoins that could be next, such as Polygon (MATIC), Fantom(FTM) and Enjin Coin [ENJ].
The analyst also discusses the technical outlook for Woo Network and Verasity, two other altcoins.
Van de Poppe believes that the flagship cryptocurrency Bitcoin will see a solid bounce and reach $46,000. This follows the cryptocurrency’s flip above $40k after a brief dip to lows of $39,600 on Monday.
— Michaël van de Poppe (@CryptoMichNL) January 10, 2022
Fantom is one to keep an eye on
When it comes to altcoins, the analyst believes that Fantom’s price could be on the rise again, despite having fallen below major support levels. He considers the FTM/BTC price pair to be an indication of bullish resilience and notes that 0.0005 BTC would make a good entry level for the coin.
Michael van de Poppe believes FTM along with Cosmos (ATOM), Chainlink (LINK) are the altcoins showing great strength lately. He says if Bitcoin price “settles”, then FTM would be one of those altcoins to watch.
Once #BitcoinAfter the coin has settled down for a while, you might want to grab the coins that are showing strength during the previous weeks.
— Michaël van de Poppe (@CryptoMichNL) January 8, 2022
The analyst also monitors Polygon, another coin which saw a huge run in 2021, but has been under increased pressure since the market correction in December.
Van de Poppe claims MATIC can make another bullish move if prices break above the $2.15-2.20 resistance zone.
WOO and ENJ also look good
Enjin Coin, (ENJ), the crypto strategist noted that bulls are now looking at two key support levels in the extended correction. The first one is at $2.20, while the second could be in the $1.90 region.
He notes that if prices hold above the two anchors, it’s possible for ENJ to see fresh upside momentum.
He says that ENJ has “two massive areas of support,” zones at which he would “personally want to be seeking for longs.”
Next is WOO, which is the native token of the Woo Network. According to van de Poppe, the token’s value is likely to explode if it breaks against Bitcoin. The WOO/BTC pair currently trades at 0.00002214 BTC. Altcoin 2.4% is down against the top crypto over the last 24 hours.
Verasity (VRA), could soon reach 6800 sats
The trader pointed out that the coin had tested a key supply area multiple times. There is potential for a bullish continuation if buyers continue to hit higher lows.
The other altcoin on the analyst’s list of potential outperformers in 2022 is Verasity (VRA). Analyst notes that the price of the token has fallen nearly 25% over the last 7 days. As of writing, VRA/BTC is trading at around 6300 sats. It is well above the support zone between 5335-5800.
Van de Poppe believes that VRA could experience a new bull wave if it breaks above the main resistance of 6800 satoshis.
Request 01 – $VRA
Trending south is still evident, but I will be paying attention to two key support zones.
Currently, in the first.
If it breaks above 6800, a new bull wave could be initiated. pic.twitter.com/vPEGEl9YTo
— Michaël van de Poppe (@CryptoMichNL) January 9, 2022