A widely followed crypto analyst says an Ethereum (ETH) layer-2 scaling solution appears to be a harbinger of a rally that would deliver gains of more than 200%.
In a new strategy session, crypto trader Michaël van de Poppe explains tells With its 736,000 followers on social media platform
“Volatility is increasing. OP has tested the crucial resistance, but has fallen by more than 20% in recent days. If there is another test of $1.80-1.90, I expect we will break higher and have an ATH test in January.”
Optimism is trading at $1.54 at the time of writing, down 7% over the last 24 hours. To cross the all-time high of $4.84, OP would need to rise 214% from the current price.
We continue with Bitcoin (BTC), van de Poppe say the top crypto asset by market cap could reach a six-figure price tag by the end of this week. However, he also predicts that all crypto markets will experience a sudden crash in the next two weeks that will hamper liquidity.
“A huge chart for Bitcoin. It has risen a lot since Trump’s election. The question is: will we see $100,000 this week? We maybe. There will also be a sudden crash in the markets in the next 1-2 weeks, which will negatively impact liquidity.”
Bitcoin is trading at $88,757 at the time of writing, down 5% on the day.
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Generated image: DALLE3