A popular crypto analyst believes that September will be a good month for a handful of altcoins including Cardano (ADA) and XRP.
Michaël van de Poppe tells his 624,800 Twitter followers that the much-anticipated update for Cardano could be the catalyst that propels ADA to a level not seen since February this year.
“Cardano has the hard fork coming up and has a beautiful retest of support, confirming a double bottom. Targets: $0.55 and $0.75.”
At time of writing, ADA is changing hands for $0.50, up 2.40% in the past day.
Next up is XRP, which Van de Poppe says looks ripe for a breakout against Bitcoin (XRP/BTC).
“Squeeze between 50-day moving average and 200-day moving average. Break above 0.000017 BTC ($0.34) and target at 0.000022 BTC ($0.44) seems likely.”
At time of writing, the XRP/BTC pair is swapping hands for 0.0000166 BTC ($0.33).
Another coin on the trader’s list is smart contract protocol EOS (EOS). According to Van de Poppe, EOS will likely revisit support at $1.35 before it can ignite the next leg up toward $2.
“Avoid chasing pumps, especially in these market conditions. Retests always happen. A beautiful retest took place and now some more consolidation before another test at $2 is likely going to happen.”
At time of writing, EOS is trading at $1.48, down nearly 3% on the day.
Looking at peer-to-peer payments network Litecoin (LTC), Van de Poppe predicts a slight pullback before the large-cap altcoin potentially launches a 35% surge.
“Flipped above 50-day moving average. Looking for strength and continuation here by holding above $59. If so, then $80 is next. Old coins are looking good.”
At time of writing, LTC is valued at 60.68, up over 2% in the last 24 hours.
Last on the trader’s watchlist is Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. According to Van de Poppe, he’s bullish on ATOM as long as it trades above the key support area of $11.
“Very strong on the price action. Also looking to see continuation here, and above $13, expansion and acceleration seems likely. A crucial area to hold is around $11. If that sustains, $17-$18 is next.”
Cosmos is currently trading for $12.96, up over 3% on the day.
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Featured Image: Shutterstock/Mia Stendal/Vladimir Sazonov
