{"id":561493,"date":"2023-11-20T12:00:09","date_gmt":"2023-11-20T12:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=561493"},"modified":"2024-06-11T08:39:19","modified_gmt":"2024-06-11T08:39:19","slug":"altcoin-corrections-strong-buy-crypto-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-corrections-strong-buy-crypto-analyst\/","title":{"rendered":"Altcoin Corrections Signal Strong Buy Opportunities: Crypto Analyst"},"content":{"rendered":"

In a recent analysis<\/a> shared on X (formerly Twitter), crypto analyst Micha\u00ebl van de Poppe offered an insightful perspective on the current state of the altcoin market. His analysis draws parallels with historical trends, suggesting that the current corrections in altcoins may present strong buying opportunities for investors.<\/p>\n

Buy The Altcoin Dips Now?<\/h2>\n

Van de Poppe’s analysis began by noting the ongoing corrections in the altcoin sector, which he interprets as part of a sustained uptrend. “Altcoins have multiple days\/weeks correction while still in an uptrend,” he stated, indicating that these periods are not only natural but also beneficial for the market’s overall health.<\/p>\n

Related Reading: Crypto Analyst Projects $7 Trillion Market Cap For Altcoins \u2013 Here\u2019s When<\/a><\/div>\n

He further explained the dynamics of these corrections, emphasizing their historical significance. “This [current] period is very heavily comparable to the period we experienced at the end of 2015, or at the end of 2019,” van de Poppe mentioned. He drew specific attention to Ethereum’s remarkable run from $1 to $14 in late 2015, which eventually led to a peak of $1,400 in 2017, demonstrating the potential for massive returns.<\/p>\n

\"Ethereum
Ethereum Price Performance In 2015\/2016 | Source: X @CryptoMichNL<\/figcaption><\/figure>\n

Van de Poppe’s analysis also touched upon the concept of higher timeframe support zones. He elucidated that during initial upward runs, corrections to these support zones offer ideal re-entry points for investors. “During the run in 2020, we’ve seen the DeFi summer taking place, which has a high chance of coming back to the surface in 2024,” he added, hinting at a potential bull run in the coming months.<\/p>\n

A significant part of his analysis involved a detailed comparison between Ethereum’s price action and that of other altcoins like Chainlink and Arbitrum. He noted, “If you compare the price action of Ethereum with the current price action of Chainlink, you’ll see that it’s just barely having a correction of 20%.” He suggested that further corrections could provide even clearer trends and entry points for investors.<\/p>\n

Related Reading: Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000<\/a><\/div>\n

Van de Poppe also emphasized the importance of time frames in analyzing these trends. “If you start to zoom in on the 1h, or 4h, or 15m timeframe, you’ll spot those trends as well. It’s just a matter of time frame,” he explained.<\/p>\n

Chainlink And Arbitrum Entry Zones<\/h2>\n

Looking at the LINK\/USD 1-day chart, van der Poppe remarked, “Arguments can be made that we’re barely at the start of this first upwards wave of the cycle as this rally of Chainlink lasted less than 5 weeks.”<\/p>\n

As the crypto analyst shows, Chainlink has already undergone a correction of -21.7%. According to him, there are two points of interest for a possible entry, in the range from $12.54 to $13.18 and around $11.62.<\/p>\n

\"Chainlink
Chainlink price analysis | Source: X @CryptoMichNL<\/figcaption><\/figure>\n

“Another example is Arbitrum, which is currently resting on support and, just like the rest of the markets, is providing a corrective move,” stated van der Poppe. The analyst identifies a “clear range support” at $0.98 in the 1-day chart of ARB\/USD.<\/p>\n

\"Altcoin
Arbitrum price analysis | Source: X @CryptoMichNL<\/figcaption><\/figure>\n

In conclusion, Micha\u00ebl van de Poppe’s analysis presents a compelling case for considering altcoin corrections as potential opportunities for investment. His concluding advice to investors is \u201cDon’t be afraid, if an altcoin drops between 30-50% at this stage of the cycle, time to look for your entries.\u201d<\/p>\n

At press time, the total altcoin market cap stood at $169.264 billion, just below the crucial 0.236 Fibonacci retracement level of $169.928 billion. A break above this resistance could be a major bullish signal.<\/p>\n

\"Altcoin
Altcoin market cap sits below the 0.236 Fib, 1-week chart | Source: OTHERS on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In a recent analysis shared on X (formerly Twitter), crypto analyst Micha\u00ebl van de Poppe offered an insightful perspective on the current state of the altcoin market. His analysis draws parallels with historical trends, suggesting that the current corrections in altcoins may present strong buying opportunities for investors. Buy The Altcoin Dips Now? Van de Poppe’s analysis began by noting the ongoing corrections in the altcoin sector, which he interprets as part of a sustained uptrend. “Altcoins have multiple days\/weeks correction while still in an uptrend,” he stated, indicating that these periods are not only natural but also beneficial for the market’s overall health. Related Reading: Crypto Analyst Projects $7 Trillion Market Cap For Altcoins \u2013 Here\u2019s When He further explained the dynamics of these corrections, emphasizing their historical significance. “This [current] period is very heavily comparable to the period we experienced at the end of 2015, or at the end of 2019,” van de Poppe mentioned. He drew specific attention to Ethereum’s remarkable run from $1 to $14 in late 2015, which eventually led to a peak of $1,400 in 2017, demonstrating the potential for massive returns. Van de Poppe’s analysis also touched upon the concept of higher timeframe support zones. He elucidated that during initial upward runs, corrections to these support zones offer ideal re-entry points for investors. “During the run in 2020, we’ve seen the DeFi summer taking place, which has a high chance of coming back to the surface in 2024,” he added, hinting at a potential bull run in the coming months. A significant part of his analysis involved a detailed comparison between Ethereum’s price action and that of other altcoins like Chainlink and Arbitrum. He noted, “If you compare the price action of Ethereum with the current price action of Chainlink, you’ll see that it’s just barely having a correction of 20%.” He suggested that further corrections could provide even clearer trends and entry points for investors. Related Reading: Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000 Van de Poppe also emphasized the importance of time frames in analyzing these trends. “If you start to zoom in on the 1h, or 4h, or 15m timeframe, you’ll spot those trends as well. It’s just a matter of time frame,” he explained. Chainlink And Arbitrum Entry Zones Looking at the LINK\/USD 1-day chart, van der Poppe remarked, “Arguments can be made that we’re barely at the start of this first upwards wave of the cycle as this rally of Chainlink lasted less than 5 weeks.” As the crypto analyst shows, Chainlink has already undergone a correction of -21.7%. According to him, there are two points of interest for a possible entry, in the range from $12.54 to $13.18 and around $11.62. “Another example is Arbitrum, which is currently resting on support and, just like the rest of the markets, is providing a corrective move,” stated van der Poppe. The analyst identifies a “clear range support” at $0.98 in the 1-day chart of ARB\/USD. In conclusion, Micha\u00ebl van de Poppe’s analysis presents a compelling case for considering altcoin corrections as potential opportunities for investment. His concluding advice to investors is \u201cDon’t be afraid, if an altcoin drops between 30-50% at this stage of the cycle, time to look for your entries.\u201d At press time, the total altcoin market cap stood at $169.264 billion, just below the crucial 0.236 Fibonacci retracement level of $169.928 billion. A break above this resistance could be a major bullish signal. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":561496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,142,88023,84309,428,16295,6664,8323,1946,16097],"class_list":["post-561493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-altcoins","tag-arb","tag-arbitrum","tag-bitcoin","tag-chainlink","tag-crypto","tag-eth","tag-ethereum","tag-link"],"acf":[],"yoast_head":"\nAltcoin Corrections Signal Strong Buy Opportunities: Crypto Analyst<\/title>\n<meta name=\"description\" content=\"In a recent analysis shared on X, crypto analyst Micha\u00ebl van de Poppe offered an insightful perspective on the state of the altcoin market.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Altcoin Corrections Signal Strong Buy Opportunities: Crypto Analyst","url":"http:\/\/wncen.com\/news\/altcoin-corrections-strong-buy-crypto-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/altcoin-corrections-strong-buy-crypto-analyst\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1845202807.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1845202807.jpg?fit=2880%2C1620"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","altcoins","arb","arbitrum","bitcoin","chainlink","crypto","eth","ethereum","link"],"dateCreated":"2023-11-20T12:00:09Z","datePublished":"2023-11-20T12:00:09Z","dateModified":"2024-06-11T08:39:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Altcoin Corrections Signal Strong Buy Opportunities: Crypto Analyst\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/altcoin-corrections-strong-buy-crypto-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/altcoin-corrections-strong-buy-crypto-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1845202807.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1845202807.jpg?fit=2880%2C1620\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"altcoins\",\"arb\",\"arbitrum\",\"bitcoin\",\"chainlink\",\"crypto\",\"eth\",\"ethereum\",\"link\"],\"dateCreated\":\"2023-11-20T12:00:09Z\",\"datePublished\":\"2023-11-20T12:00:09Z\",\"dateModified\":\"2024-06-11T08:39:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1845202807.jpg?fit=2880%2C1620","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561493"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=561493"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561496"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=561493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=561493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=561493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}