Renowned crypto strategist Michaël van de Poppe is optimistic about the potential of one Ethereum (ETH) competitor to kickstart a significant bullish phase.
Van de Poppe shared with his 776,000 followers on the social media platform X that he sees the layer-1 protocol Near (NEAR) showing signs of establishing a cycle bottom.
The analyst believes that NEAR is nearing the end of its accumulation phase before initiating a bullish trend.
“This is a typical chart of a standard Altcoin bull run.
After an initial rise, a full correction usually occurs before the real bullish run begins.
These runs often start from a double-bottom retest – which is currently happening.
It’s a good accumulation zone.”
A double-bottom pattern indicates a bullish reversal, suggesting that an asset is solidifying a price floor before a potential uptrend. Currently, NEAR is trading at $3.45.
Discussing the altcoin XRP, Van de Poppe noted that the coin has already experienced significant gains in this cycle, and further upside potential may be limited. However, he mentioned that there is still a chance for XRP to surprise investors and trigger another major rally.
“In just four weeks, the price surged by 500% for a $30 billion asset.
Most of the potential upside may have already been realized, with only latecomers buying at current levels.
My expectation is that we will consolidate before resuming the upward movement, which might take some time. If you’re interested in XRP, consider buying the dip in the lower range, around $1.50-2.25. That’s a favorable zone.”
Currently, XRP is valued at $2.57.
Turning to the smart contract platform Sui (SUI), Van de Poppe expressed his long-term bullish outlook on the altcoin but cautioned that a drop to $1.50 could occur. He also suggested that SUI could potentially see a 9x increase in value if it enters a true bull cycle.
“SUI has been gaining traction, and I believe it will continue to exhibit strength. The key zone is around $2.50…
If the trend weakens below $1.50, your potential loss could be 40-50%. However, if a bull cycle ensues, the upside could range from 300-800%.”
Currently, SUI is trading at $3.41.
Lastly, Van de Poppe highlighted Sonic (S), another layer-1 altcoin, noting that it is in a strong uptrend and predicting that it will surpass $1.
“A new standout in the market. Showing a robust upward trend and gaining momentum on social media.
It’s likely to continue its upward trajectory. As a trader, consider buying the dips… The range to target is between $0.675-0.775…
The goal? Achieving new highs. The uptrend is evident.”
Currently, S is priced at $0.86.
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