A popular analyst is digging into the charts to update his price targets for a handful of leading crypto assets.<\/p>\n
Micha\u00ebl van de Poppe first tells<\/a> his 622,600 Twitter followers that he\u2019s keeping a close eye on support levels for scalability and interoperability ecosystem Cosmos (ATOM<\/a>), which recently gave up gains from the latest leg of an extended rally dating back to mid-June.<\/p>\n \u201cAt massive levels of support here, which is reasonable for long entries.<\/em><\/p>\n If this one is lost, I\u2019m looking at $8 next.<\/em><\/p>\n Holding here = potential trigger towards $18-20 in the coming month.\u201d<\/em><\/p>\n At time of writing, Cosmos is down 8.59% over the past 24 hours and priced at $10.83.<\/p>\n Moving on to crypto lending and borrowing protocol Aave (AAVE<\/a>), the crypto strategist says<\/a> that in light of the recent marketwide corrective, he sees the altcoin as a candidate for range trading with support at $80 and resistance at $103.<\/p>\n \u201cThis one is trending down as the entire market is correcting.<\/em><\/p>\n Fake-out above resistance and drop beneath $103 caused an acceleration of the correction.<\/em><\/p>\n Looking at $80-82 for support. Looking at $103 for crucial resistance. Range-bound plays.\u201d<\/em><\/p>\n Aave has been sliding into the red all week, currently down nearly 15% on the day and trading for $84.31.<\/p>\n Also on Van de Poppe\u2019s watchlist is enterprise-grade blockchain platform Elrond (EGLD<\/a>), which has been steadily dropping since August 10th. The analyst is setting<\/a> two levels of support: one at $50 and then $44 if the first capitulates.<\/p>\n \u201cAn important level of support and confluence on multiple timeframes.<\/em><\/p>\n Gap has been filled, which was practically the last one. Arguments for a bottom around the markets could be there.<\/em><\/p>\n Resistance at $57. Break there = new highs. Support: $50 and $44.\u201d<\/em><\/p>\n Elrond is down 8.79% and changing hands for $52.37. The altcoin was trading above $69 just a week ago.<\/p>\n Regarding cross-chain interoperability protocol Polkadot (DOT<\/a>), the crypto analyst thinks that a rally to $8.40 is possible if $7.70 is recaptured. However, Van de Poppe cautions<\/a> about the potential for DOT to lose support at $7.<\/p>\n \u201cLooking for a trigger on this one if we reclaim $7.70, as then a retest at $8.40 is likely.<\/em><\/p>\n Otherwise, the patience game happens, and you\u2019ll have to see whether sub-$7 is a trigger for longs.\u201d<\/em><\/p>\n Polkadot\u2019s price mirrors the overall crypto market slump to end the week, with DOT currently in the red by nearly 12.5% and valued at $7.35.<\/p>\n Last on Van de Poppe\u2019s radar is EOS (EOS<\/a>), an open-source and decentralized platform whose smart contract capabilities make it a direct competitor to Ethereum (ETH<\/a>).<\/p>\n In response to the altcoin\u2019s mid-week rally in defiance of broader market trends which was soon followed by a sharp corrective move, the trader advises<\/a> his followers to not go running after coins that are already pumping.<\/p>\n \u201cLooking at the structure, you should learn a lesson from this recent move of EOS. Avoid chasing pumps!<\/em><\/p>\n In this case, I\u2019d be looking at confirmation if we dip to $1.18 and reclaim $1.30 afterward for longs. The same goes for reclaiming the $1.40 area.\u201d<\/em><\/p>\n Back on Tuesday, EOS leaped by 27.9% from $1.29 to $1.65, but has since worked its way back down. At time of writing, EOS is down 16.24% and changing hands for $1.27.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>
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