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A widely followed crypto analyst says that one Ethereum (ETH)-based altcoin looks ready to skyrocket in the coming months while updating his outlook on Bitcoin (BTC) and Sui (SUI).
In a new strategy session, crypto trader Michaël van de Poppe tells his 789,600 followers on the social media platform X that it appears as if the layer-2 scaling solution Arbitrum (ARB) is primed to rise over the next 1-2 months.
“The bullish divergence on ARB remains to be valid as it starts to make higher lows and higher highs. One to watch, and as we have this higher timeframe bullish divergence, it’s a good indicator that this one will do well in the coming 1-2 months.”
ARB is trading for $0.411 at time of writing, a 1.8% increase on the day.
Moving on to the crypto king, the analyst says that he ultimately believes BTC will slowly grind upwards to a new all-time high (ATH). However, he notes that if it were to lose support at $107,000, it could see a sharp correction.
“Level by level, Bitcoin continues to grind upwards. I think that we’ll continue to grind towards new ATHs, however, if this green block (support) is lost, you’ll see fast wicks occur.
Quite standard, corrections are going to be volatile and with deep wicks as people tend to jump back into the asset in a fast manner. When can we expect one? If the level at $107,000 is lost.”
BTC is trading for $107,249 at time of writing, a marginal decrease on the day.
Concluding his analysis with layer-1 blockchain and smart contract platform Sui Network, the trader says it’s recovering nicely after the FUD (fear, uncertainty, and doubt) surrounding it after it got hacked to the tune of hundreds of millions of dollars earlier this month.
“SUI is strongly coming back after some FUD surrounding the Cetus exploit. The TVL (total value locked) has already bounced up with $300 million and is back to $1.8 billion TVL. I think that SUI remains to be a strong horse in the race of adoption and the stabilization on price proves this.
Additionally, it’s outperforming Solana and I think that this will continue to be the case in the next 12-24 months. Just a normal consolidation.”
SUI is trading for $3.58 at time of writing, a marginal increase on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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