- Crypto analyst, van de Poppe, stated recently that BTC’s price is trending down and the analyst also analyzed other cryptos, including the AI altcoin FET.
- While discussing FET in his analysis, Van de Poppe referred to it as a strong token.
Contrary to widespread expectations, the year has been a bearish season, with most digital currencies losing their 2021 gains in just a few months. Still, the crypto market is yet to show any bullish momentum. Meanwhile, a prominent cryptocurrency analyst has released his analysis of some digital currencies. The digital currencies he analyzed include Bitcoin (BTC), Fantom (FTM), Litecoin (LTC), and the AI altcoin, FET.
Michaël van de Poppe analyzes some cryptos
Michaël van de Poppe, a famous crypto analyst, took to Twitter recently to share insights into his price analysis of these cryptocurrencies with his over 643,500 followers. While speaking about BTC, the analyst noted that the flagship currency is trending down.
According to him, BTC witnessed two harsh rejections in the past week. He said the rough rejections were at the $16,600 and $16,800 price levels, respectively. Meanwhile, he opined that the leading digital asset might soon be retesting the $16,400 price resistance level.
If BTC reclaims that price zone, the USD has to bounce up. However, if BTC fails to overcome that price resistance level, it would drop towards its next support level at $16,200,” he added. Furthermore, Van de Poppe believes that Litecoin’s native token (LTC) is getting close to a price zone that would be favorable for prospective long trades. “LTC arrived at its destination sooner than I had anticipated it would. Long regions ahead,
Additionally, the trader analyzed the performance of the layer-1 network, Fantom, identifying two significant price points for FTM, its native token. “Let’s check if the trend can flip on FTM,” said the trader. He explained that there was a critical level of support at $0.1990. However, the token would have to surpass a crucial resistance at $0.2025.
FET is a strong one — Van de Poppe
Subsequently, the analyst shifted his focus to the machine-learning network Fetch.ai’s governance token (FET). While discussing FET in his analysis, Van de Poppe referred to it as a strong token. “The altcoin made that bearish retest; however, the price did not fall as far as I wanted it to achieve the fill. I shared this one previously here,” he stated.
Van de Poppe talked about FET again, saying the AI-powered blockchain had finally “reached the level.” according to him, “the token has been rising, and it may continue to do so if the market remains steady.” According to current CoinMarketCap data, FET is trading at $0.092536 and is up 1.13 percent in the last 24 hours.
However, the AI altcoin is still 92.16 percent below its all-time high of $1.19, recorded on September 8th, 2021. The token’s lowest value since its introduction was $0.00816, attained on March 12th, 2020. Van De Poppe’s analysis of these coins indicates that he is bullish about them for at least the foreseeable future.