Cryptocurrency analyst and trader Michaël van de Poppe is feeling optimistic about a top-50 altcoin by market cap, sharing his thoughts on Bitcoin (BTC) and Ethereum (ETH).
Van de Poppe, with a following of 738,800 on X, highlights Stacks (STX) as a potential winner, suggesting that the native token of the Bitcoin layer-2 project could see a 109% increase from its current level after consolidating for over six months.
“The markets are showing signs of life, so keep an eye out for projects that are ready to break out. One such project is STX, which has been in consolidation mode for over 200 days. They have successfully completed the Nakamoto upgrade, and a break above $2.20 could lead to a new all-time high.”
STX is currently trading at $1.85, around 52% below its all-time high reached in April.
Shifting focus to Bitcoin, Van de Poppe predicts a price range of $100,000 to $120,000 in the next one to two months, with the start of an altcoin season resembling that of 2017.
Bitcoin is currently trading at $93,700.
For the Ethereum/Bitcoin (ETH/BTC) pair, Van de Poppe anticipates a potential bottoming out next month if the pair fails to break a key resistance level and continues its downward trend.
“ETH has struggled to surpass the 0.036 BTC area and is on a downward trajectory. If this trend persists, we could see a bottom at 0.03 BTC in December before a potential reversal.”
Ethereum is currently trading at 0.03302 BTC ($3,094).
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