Polygon Rival Primed To Explode by Over 200% in Weeks, According to Crypto Analyst Michaël van de Poppe
A widely followed crypto analyst says that one Ethereum ( ETH ) layer-2 scaling solution appears to be a cusp of a rally that would see it print gains of over 200%.
In a new strategy session, crypto trader Michaël van de Poppe tells his 736,000 followers on the social media platform X that Polygon ( POL ) rival Optimism ( OP ) could hit a new all-time high (ATH) by the start of next year if it holds key support levels.
“Volatility is increasing. OP has tested the crucial resistance, but dropped more than 20% in the past few days. If there’s another test at $1.80-1.90, then I expect we’ll break upwards and have an ATH test in January.”
Source: Michaël van de Poppe/X
Optimism is trading for $1.54 at time of writing, a 7% decrease during the last 24 hours. To pass its all-time high of $4.84, OP would need to increase by 214% from its current price.
Moving on to Bitcoin ( BTC ), van de Poppe says the top crypto asset by market cap could hit a six-figure price tag by the end of this week. However, he also predicts that all crypto markets will see a flash crash in the next week or two that will inhibit liquidity.
“A massive chart for Bitcoin. It’s up a lot since Trump’s election. The question is: Are we seeing $100,000 during this week? We might. We’ll also have a flash crash across the markets in the coming 1-2 weeks to take liquidity on the downside.”
Source: Michaël van de Poppe/X
Bitcoin is trading for $88,757 at time of writing, a 5% decrease on the day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: SBI's XRP Bet Stands Strong Amid Blockchain Expansion Surge
- SBI Holdings reaffirms XRP's strategic role in cross-border payments despite new blockchain partnerships with Chainlink, Circle, and Startale. - Chainlink's CCIP and compliance tools enhance SBI's infrastructure, but XRP remains critical for live corridors like Japan-Philippines due to cost efficiency. - SBI's ventures include USDC adoption with Circle and RWA tokenization with Startale, aiming to merge traditional finance with DeFi for 24/7 trading. - XRP's $2.92 price resilience and $176B market cap re
Ethereum News Today: VersaBank Aims to Redefine Digital Banking with FDIC-Backed Tokenized Dollars
- VersaBank USA launches tokenized deposit pilot using USDVBs, FDIC-insured digital tokens backed by cash deposits. - Pilot tests thousands of low-value transactions on Algorand, Ethereum, and Stellar blockchains via proprietary platforms. - Bank seeks OCC non-objection to commercialize USDVBs, emphasizing compliance with BSA and OFAC regulations. - USDVBs differ from stablecoins by offering bank-issued interest and enhanced security through federal charter. - Program aims to establish VersaBank as a leade
NVIDIA’s Earnings Highlight the Cost of the China-US Tech Standoff
- NVIDIA’s Q2 revenue hit $46.7B, exceeding estimates but showing slower growth amid AI market stabilization. - Data center revenue ($41.1B) fell slightly short of forecasts, while gaming revenue ($4.3B) outperformed expectations. - U.S.-China trade tensions reduced China-related revenue and imposed a 15% U.S. government revenue-sharing agreement. - Gross margins are projected to decline to 72.1% in Q2, with further dips expected due to the new revenue-sharing terms. - Despite challenges, NVIDIA announced
Ethereum News Today: Ethereum's Staking Unlock Ignites Altcoin Hunt for Hidden Gains
- Investors target high-potential altcoins like MATIC, Dogecoin, and APT as MAGACOIN FINANCE's presale nears completion with rapid sellouts. - Ethereum's $2B staking unlock risks volatility, potentially redirecting capital to smaller projects amid $4,000 support level uncertainty. - Fed rate decisions and liquidity shifts amplify market uncertainty, with MAGACOIN FINANCE's discounted entry points attracting capital during macroeconomic turbulence. - Ethereum's $13B ETF inflows and institutional adoption co
Trending news
MoreCrypto prices
More
