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Renowned market expert Michael Van de Poppe has recently shared his insights on the current state of the cryptocurrency market, highlighting potential breakout opportunities for altcoins.  As the largest cryptocurrency on the market, Bitcoin (BTC), consolidates in a price range between $67,000 and $70,000, Van de Poppe’s latest market update suggests that this may be the ” final time” to invest in altcoins before a potential breakout.  Altcoins Analysis In a series of social media posts, Van de Poppe analyzes specific altcoins, including Sui (SUI), Chainlink (LINK), Floki Inu (FLOKI), Fantom (FTM), and Polkadot (DOT), offering valuable insights for investors. One of the altcoins that has caught Van de Poppe’s attention is SUI, which, according to his analysis, has shown strength in the market with a higher low formation. Van de Poppe suggests that if momentum provides a breakout above $1.17, SUI could continue its uptrend toward $1.60 (currently trading at $1.067). Chainlink (LINK) is another altcoin Van de Poppe considers “heavily undervalued.” Drawing on historical data, he points out that LINK has delivered a 150% return in previous cycles, making it an attractive investment opportunity at its current trading price of $16.037. Related Reading The daily chart shows LINK’s price downtrend over the past two weeks. Source: LINKUSD on TradingView.com However, Van de Poppe also advises caution with certain altcoins. For instance, FLOKI, despite its substantial 1200% increase since the beginning of its recent run, carries a “higher risk of a heavy correction.” He suggests that interested investors wait for a 30-40% correction before considering an investment. Van de Poppe also draws attention to Fantom’s native token FTM, which has been forming lower highs and lower lows. With multiple tests of the $0.60 support, a price breakdown seems likely. If a breakdown occurs, he identifies two potential areas of…

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Filed under: News - @ June 11, 2024 1:26 am