The crypto market is continuously changing, but during the past few days, the most important coins have been looking great.
Now, crypto trader Michaël van de Poppe analyzes some altcoins that he thinks are set to take off in August.
Top three altcoins to watch in August
It’s been revealed that in a new video, Van de Poppe says that scalable blockchain network Elrond (EGLD) is finding solid support in its Bitcoin pair (EGLD/BTC) at 0.0018 BTC and could reach between 0.007 BTC to 0.008 BTC ($278-$317) on the next leg up.
Van de Poppe’s EGLD/BTC prediction represents potential gains of over 344%, as the online publication, the Daily Hodl notes.
The next project that the analyst is talking about is the decentralized artificial intelligence tool Fetch.ai (FET), which Van de Poppe says will likely continue its bullish pattern in the next month against Bitcoin.
He said that FET is printing a bullish higher low setup at 0.000005, which could ignite a rally to resistance at 0.000027 BTC ($1.07) – this would mark an increase of 440%.
The third project that the analyst mentions is Ethereum compatible layer-2 solution Skale Network, which is forming a bullish divergence against Bitcoin (SKL/BTC), according to Van de Poppe.
“If SKL/BTC can print a higher low at 0.0000067 BTC or $0.27, the crypto strategist predicts a bullish ascent to resistances at 0.0000081 BTC ($0.31) and 0.00001 BTC ($0.40),” he believes according to the online publication the Daily Hodl.
Make sure to check out the video above in order to learn more details about the coins that the trader and analyst believe we should be watching during this month.
Regarding Bitcoin, it’s also important to note that the king coin continues to make headlines these days. PlanB analyst just dropped a pretty interesting tweet about Bitcoin’s realized cap.
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo’s). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish. pic.twitter.com/q3mhSZ19oH
— PlanB (@100trillionUSD) August 1, 2021
Stay tuned for more news.