Top crypto analyst Michaël van de Poppe is providing his take on the possibility of a fresh altseason and spotlighting three assets that appear ready for new breakouts.
In a new video, Van de Poppe tells his 103,000 subscribers that despite the harsh late-May correction that saw Bitcoin tumble to $30,000, an altseason may be in the cards in the coming weeks.
Van de Poppe notes that the overall altcoin market cap is still above the 21-day weekly moving average (21 WMA), signifying that the altcoin bull run is likely unfinished.
“We are still acting above the 21 WMA meaning that the chances of us continuing the grind to the upside are significant…
Many altcoins are going to make new highs in their USD and Bitcoin pairs. That the altcoin market cap is currently holding above the 21 WMA is a very bullish trigger and a good signal of the momentum we have, through which the assumption [is] that we can continue grinding up and that we still have a very strong summer coming up for altcoins…
Are we going to get a big altcoin season? The thesis is still standing, and I’m still assuming that they’re going to continue their momentum. It’s time for you to start accumulating.”