Crypto analyst Michaël van de Poppe believes that a low-cap altcoin that has posted nearly 9x gains this year is gearing up for a bullish continuation.
Van de Poppe tells his 667,600 followers on the social media platform
The widely followed crypto analyst says that if his bullish thesis for Kaspa comes to fruition, the crypto asset could rise in value by around 41% from the current price to reach a new all-time high of $0.068. According to Van de Poppe, Kaspa needs to convert resistance around the $0.049 level into a support zone to continue the long-term uptrend.
KAS is trading at $0.0479 at the time of writing, up about 788% from the price of $0.00539 recorded in early 2023.
If the crypto market turns bearish instead, the widely followed crypto analyst and trader says his area of interest would be up to 24% below current levels.
“If the markets show weakness, I would be interested between $0.036 – $0.04.”
As for the native token of the decentralized graphics rendering platform, Render Network (RNDR), Van de Poppe says he also expects the altcoin to continue to develop. According to the analyst, a break in the RNDR’s immediate resistance is likely to lead to breakout rallies.
“I personally expect there to be a bullish continuation.
In that regard, I would prefer a break above $1.65 and then we look for expansion and continuation.
Targets of $2.50-3.00 are reasonable.”
RNDR is trading at $1.53 at the time of writing.
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Generated image: Midjourney