Widely followed crypto trader Michaël van de Poppe says STEPN (GMT) could see a massive rally if Bitcoin (BTC) can maintain the $28,400 support range.
The crypto analyst tells his 602,000 Twitter followers GMT could soon jump approximately 47% to the $1.80 level.
“Might be a play on GMT if BTC holds $28,400 range.”
STEPN is trading for $1.38 at time of writing.
Staying on BTC, Van de Poppe says if Bitcoin can flip the $29,400 level from resistance to support, then nothing is stopping the largest crypto by market cap from reaching $32,800.
“Still watching this on Bitcoin in which my area is the one at $28,400 (marked a few days ago).
Rejected at $29,400 as well, so will see how lower ranges are going to react.
Flip of $29,400 is a trigger towards $32,800 already.”
Bitcoin is trading for $30,362 at time of writing.
Van de Poppe also thinks the altcoin markets are ready to pop. He singles out a chart of Chiliz (CHZ), nothing that the sports-focused social token could be poised to make 20-35% gains.
“Good breakout on some altcoins, resulting into some [Support/resistance] flips that could be traded.
This one on CHZ as well.
Might result into 20-35% run.”
Chiliz is trading for $0.12 at time of writing.
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The post One of 2022’s Most Explosive Altcoins May Be Gearing Up for 47% Rally, According to Analyst Michaël van de Poppe appeared first on The Daily Hodl.