ADA, SXP, AVAX, ATOM, ONE, LINK, RSR: Crypto Market Update

Jafrin  |  Jun 2, 2021, 2:30 pm
ADA, SXP, AVAX, ATOM, ONE, LINK, RSR: Crypto Market Update

Popular crypto analyst and trader Michaël van de Poppe has shared what he thinks next for altcoins like ADA, SXP, AVAX, ATOM, ONE, LINK, RSR in his latest YouTube video.

ADA, SXP, AVAX: Crypto Market Update

In his latest YouTube upload released on May 31, notable crypto analyst Michaël van de Poppe started his video saying Cardano (ADA) has the potential to surge to $5 next.

According to him, the next target for ADA is in the $3.35 level, before a potential surge to $5.

The next altcoin that Van de Poppe has got his eye on is SXP, the native token on crypto wallet Swipe.

According to him, a bullish breakout could be established once SXP breaks above the 100-day moving average (MA) against Bitcoin (SXP/BTC).

Unlike other cryptocurrencies, Swipe isn’t just a protocol powered by a distributed network but is both a software and a digital wallet ecosystem designed to allow users to buy and spend fiat money and cryptocurrencies at physical and digital locations.

The next altcoin on Van de Poppe’s list is the smart contract platform Avalanche against Bitcoin (AVAX/BTC). He notes that the trading pairs did "get crushed" compared to other altcoins during the recent crypto market wipeout.

If AVAX/BTC can break above the 0.00061 area, which is about a 22% move from its current value of 0.00049 he says the coin can continue its bullish momentum.

Avalanche is a decentralized smart contract framework intended to be a massively scalable ecosystem to provide speedier transactions while charging fractions of a cent in transaction fees.

ATOM, ONE, LINK, RSR: Crypto Market Update

The trader next comments on interoperable blockchain protocol Cosmos (ATOM) saying the native asset might continue its bullish momentum against Bitcoin once it breaks the 200-day moving average, currently around 0.0004.

Cosmos is a network of blockchain networks that allows separate blockchains to communicate with each other in a seamless manner.

He also goes on to say that ONE, the native token on Harmony has the potential to surge to new highs if ONE/BTC can hold the critical level of 200 satoshis or 0.000002.

Harmony positions itself as a fast and secured platform for decentralized applications as designed to solve crucial problems in Ethereum like high fees, slow transaction speeds, and scalability issues.

In terms of Chainlink (LINK/BTC) trading pairs, the analyst notes that LINK against BTC did manage to climb above the crucial moving averages and if it manages to hold could potentially rally by over 42% from its current price of 0.00083 to 0.00118.

Chainlink is a decentralized oracle network and cryptocurrency that provides real-world data to blockchains.

Lastly, Van de Poppe’s analyses on RSR, the native token on stablecoin platform Reserve Rights. According to him, RSR/BTC could go for a 70% rally from 0.00000088 to 0.0000015 to test the next major resistance area.

The Reserve Right Token is the governance and utility token for Reserve, a stable coin designed on the Ethereum network.