Crypto analyst Michaël van de Poppe analyzes five altcoins that he believes could rise in price this month.
The analyst says Layer-One projects like Cardano (ADA), Solana (SOL), and Avalanche (AVAX) are doing great right now, so similar projects are likely to follow suit. Layer-One projects are built into basic blockchain protocols to improve scalability and functionality.
Van de Poppe says the Layer-One Project Cosmos (ATOM) versus Bitcoin (BTC) is still within its accumulation range, and as soon as it breaks out of that accumulation range, the “first real impulse wave” for the asset will take place.
Cosmos is designed to help developers build interoperable blockchains that can handle and share data with each other to create a decentralized internet of blockchains. The project’s native asset, ATOM, trades at $ 25.08 at the time of writing and is up about 25% over the past week, according to CoinGecko.
Next on Van de Poppe’s list is the Mina Protocol (MINA), which describes itself as a “light” blockchain platform. The project’s MINA native asset is trading at $ 4.12 at the time of writing and is up nearly 40% over the past seven days.
In terms of price, the analyst says “the next levels to look at” for MINA are $ 5.30 and $ 8.00, respectively.
Van de Poppe also takes a look at the decentralized oracle platform Chainlink (LINK), which he says “doesn’t do anything yet”.
Chainlink’s LINK native asset is trading at $ 29.45 at the time of writing and is up nearly 11% over the past week. The analyst says that LINK has performed poorly against Bitcoin and is prepared for a new wave of impetus against BTC.
“The below-average performance of the oracles shows that there is a great opportunity in the oracle department. If you want to be exposed to the oracles, the cheapest or most risk averse option is to join Chainlink. ”
Fourth on Van de Poppe’s list is the ONE sharding protocol, Harmony’s native asset. ONE is trading at $ 0.121543 at the time of writing and is up nearly 11% from the week according to CoinGecko. The analyst says ONE’s positive price action is eager to continue and predicts a surge in momentum for the asset in relation to its bitcoin pair.
Last on Van de Poppe’s list is the smart contract platform Tezos (XTZ). The analyst notes that Tezos’ native asset XTZ has not seen an upward move against Bitcoin throughout the year. He says if the asset breaks its current resistance it could double against BTC.
XTZ is trading at $ 5.32 at the time of writing and is up nearly 6% over the past week.
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