Analyst Michaël van de Poppe highlights prospects for significant activity in the cryptocurrency market, particularly for the NEAR protocol. He emphasizes the importance of monitoring market dynamics in guiding investment decisions.
NEAR Protocol and Price Expectations
According to van de Poppe, NEAR could experience a significant price increase from its current value. He projects a fluctuation between $15 and $20 within a few months, marking a 500% increase that could capture traders' attention.
Bitcoin’s Consolidation Phase
Additionally, van de Poppe notes that Bitcoin will likely consolidate before reaching its all-time high of approximately $108,000. This consolidation process occurs prior to breaking through a resistance level.
Ethereum Shows Bullish Divergence
It has been noted that ETH is forming a bullish divergence against Bitcoin on the weekly chart. This suggests that, as long as it is supported by technical indicators, prices may rise. An increase in indicators like the RSI is considered particularly significant.
Summing up forecasts about various digital assets, the analyst emphasizes the importance of technical indicators and formations. He advises traders to act cautiously by following these data points. The overall market structure, volatility, and liquidity situations could be decisive in the forthcoming period.
