Analyst Michaël van de Poppe Says Top-50 Altcoin That’s Exploded Nearly 800% Year-to-Date Ready for a ‘New Leg Up’

Crypto analyst Michaël van de Poppe believes that one low-cap altcoin that has printed close to 9x gains this year is gearing up for bullish continuation.

Van de Poppe tells his 667,600 followers on the X social media platform that Kaspa (KAS), a layer-1 proof of work cryptocurrency, “looks ready for a new leg up.”

The widely followed crypto analyst says that if his bullish thesis for Kaspa materializes, the crypto asset could appreciate by around 41% from the current price to reach a new all-time high of $0.068. According to Van de Poppe, Kaspa needs to turn the resistance around the $0.049 level into a support zone to continue the long-term upward trend.

KAS is trading at $0.0479 at time of writing, up by around 788% from its price of $0.00539 recorded at the start of 2023.

If the crypto market turns bearish instead, the widely followed crypto analyst and trader says his area of interest would be up to 24% below the current level.

“If markets are showing weakness, I’d be interested between $0.036 – $0.04.”

Source: Michaël van de Poppe/X

Turning to the native token of the decentralized graphics rendering platform, Render Network (RNDR), Van de Poppe says that he’s also expecting the altcoin to continue rallying. According to the analyst, a breach of RNDR’s immediate resistance will likely ignite breakout rallies.

“This one, I’m personally expecting bullish continuation to be happening.

In that regard, I’d prefer a break above $1.65 and then we’re looking for expansion and continuation.

Targets of $2.50-3.00 are reasonable.”

Source: Michaël van de Poppe/X

RNDR is trading at $1.53 at time of writing.

Generated Image: Midjourney

Source