A popular cryptocurrency trader is looking forward to three altcoins that could emulate Solana’s recent historical rally.
Solana (SOL) has climbed to the sixth place in the cryptocurrency, according to CoinGecko. The smart contract platform is currently trading at $175 and is up more than 600% from its July low of $23.47.
Crypto trader and market analyst Michael van de Poppe keeps close tabs on decentralized blockchain platforms Tezos (XTZ), Polkadot (DOT) and Cosmos (ATOM) after SOL broke out to an all-time high.
He tells his 123,000 YouTube subscribers that ATOM looks ready to go based on the underlying market structure.
“If I were to pick a coin that would follow Solana and it had to be a one-tier solution, either it would be Tezos or Polkadot or it would be Cosmos, and given the structure, it looks great.”
Van de Poppe says that ATOM is trading through a two-year build-up period against Bitcoin and that it is looking for a retest of the 0.00051 BTC ($22.88) level after the coin started trading in an uptrend against BTC in August.
As for where ATOM is headed next, Van de Poppe pays attention to two key price levels.
“Nice retested to break out of the level ($17.47), regained everything it lost in the crash a few days ago, and I think we will keep moving and break the rallies through which the next target area can be. I am looking for Cosmos at $47.50 and $72.”
At the time of writing, ATOM is trading at $26.98, according to CoinGecko.
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Featured image: shutterstock/Alexander III
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