Analyst and trader Michael van de Poppe made a market comment for 6 altcoins at the request of his followers. Crypto Michael suggested that the uptrend would begin after the bearish clouds collapsed on the entire market, but he did not neglect to give messages of patience.
Dutch trader Michael van de Poppe, known as Crypto Michael, a beloved social media analyst, commented on TomoChain (TOMO), Reserve Rights (RSV), LTO Network (LTO), Ren (REN), VeChain (VET) and Swipe (SXP) tokens. Stating that there is always time needed for the gradual increase on the Altcoin front, the analyst also stated that there is a period of patience and waiting before every big leap.
Crypto Michael says TomoChain, currently trading at $ 0.68, is currently in a bearish move. Stating that the support levels in this pullback are $ 0.35 – $ 0.40, the analyst suggests that there may be a bounce after falling to these levels. Michael adds, however, that he does not hold high hopes for a possible rise. The analyst says that TOMO faced the $ 1.30 – 1.35 water as a resistance zone in his previous jump and expects him to receive a rejection from there. The analyst also announced the short-term TomoChain expectation. Michael thinks TOMO may advance to $ 0.85 – $ 0.95 in the coming days, but then return to the $ 0.50 band.
Stating that there are 2 scenarios for TOMO, the analyst says that one of them is drawing a pyramid similar to the previous one. Michael stated that in this scenario, the first resistance zone that TOMO will encounter could be 0.80 and the next resistance could be 0.90. The analyst thinks a handoff can be made in these 0.80-0.90 resistance zones to be faced.
Another possibility for TOMO, according to the analyst, is to follow a more stable chart and move sideways to the resistance zone. Crypto Michael says that within TOMO’s display of this move, the expected stable mobility could be around $ 0.30, which would be a great buying opportunity.
Reserve Rights (RSV)
Crypto Michael says Reserve Rights rose sharply and then suddenly declined, just like Tesla Coin. The analyst says the RSV is returning at the same pace after making a rapid jump after $ 0.015. Michael suggests that if the RSV maintains the $ 0.010 zone in the current decline, it is likely to see $ 0.020 – $ 0.023 up again with a rise.
LTO Network (LTO)
Michael van de Poppe observes a short-term retreat for LTO. However, the analyst thinks that the uptrend is preserved in the long run. Saying that the level that should not be lost this time is $ 0.072, the analyst shows the resistance zone on the daily chart as $ 0.093. If Michael’s LTO holds on to $ 0.072, a W-shaped rise appears. The analyst explained that if this support is lost, it could be reduced to $ 0.050.
Crypto says that Michael Ren managed to break through the previous resistance zone and caught an upward trend, but fell to the waters of $ 0.22 with the following downtrend. Underlining that there is a resistance zone for the REN in the $ 0.34 – $ 0.39 band, the analyst argues that the REN could be rejected again. But he notes that the Rhine may experience a rebound in this withdrawal from the support zone at $ 0.29. Drawing attention to the resemblance of this chart he was waiting for Ren to the one in which Bitcoin saw $ 12,400, Michael says it is a sign of rise.
Stating that VeChain has experienced a fluctuation in the uptrend, Michael states that the $ 0.0093 – $ 0.010 zone is critical for VET and that the upward rally may continue if it does not stay above it. Expecting a decline to $ 0.0070 with the loss of this critical zone, the analyst argues that as long as the support zone is maintained, the retreat in waves strengthens the bulls’ hand in the long run.
The analyst, who said that Swipe’s last rally started with $ 1.5, states that this is the point where the return is again after the uptrend is over. Underlining that SXP has entered a new structure from here, Michael says the resistance in front of Swipe is $ 2.03. Poppe predicts that the new target for Swipe could be $ 2.50, with this resistance well overcome. According to Crypto Michael, this level is a critical resistance point for SXP and could drop below $ 1.5 with a rejection from there.