A closely followed crypto analyst says that one top-50 altcoin by market cap is primed for an explosive breakout.
Crypto trader Michaël van de Poppe tells his 745,200 followers on the social media platform X that the native token of the Bitcoin (BTC) layer-2 project Stacks (STX) could increase 70% from its current value as the coin challenges a key resistance level.
“The Bitcoin ecosystem fires up. STX attacks the recent high, and is likely breaking through this resistance zone. Next stop? I think a new all-time high.”
STX is trading for $2.29 at time of writing, up nearly 20% in the last seven days. STX reached an all-time high of $3.86 in April.
Next up, the analyst predicts that Bitcoin will hit six figures for the first time in its history if it can break through the $98,000 resistance level on the four-hour chart.
“Bitcoin should break $98,000, and then we’ll see $100,000 with 100% certainty as it breaks the trend. History to be made.”
Bitcoin is trading for $98,266 at time of writing, up 3.4% in the last 24 hours.
Lastly, the analyst is turning bullish on the native asset of the supply-chain management project VeChain (VET).
“Older coins are actually growing. VET is one of them. They recently announced VeBetterDAO, $B3TR, an ecosystem in which you earn tokens for taking sustainable actions. I think that communities and ‘earn’ tokens are going to be massive in the coming years as it’s a whole new reward system and business model.
VeBetterDao combines these factors in the sense that it connects real-world asset (RWA), communities, a decentralized autonomous organization (DAO) and sustainability. The latter is a widespread problem, and our planet has many issues to face. To stimulate everyone, you should be rewarded, and it should be made accessible. The good part is that there’s no entry barrier.
Every individual can earn tokens through VeChain’s ecosystem. I’m very interested as it combines many factors that I personally find meaningful.”
Looking at his chart, the trader suggests VET may soon challenge the $0.074 resistance level.
VET is trading for $0.0442 at time of writing, up 8.1% in the last 24 hours.
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The post Analyst Michaël van de Poppe Says One Top-50 Altcoin Primed To Rally 70%, Outlines Path Forward for Bitcoin appeared first on The Daily Hodl.