Crypto Analyst Predicts Over 200% Surge for Ethereum Competitor, Offers New Bitcoin Outlook
A popular crypto expert is anticipating a significant surge in a potential Ethereum (ETH) rival. Crypto analyst Michaël van de Poppe shared with his large following on the social media platform X that NEAR Protocol (NEAR) might experience a remarkable 275% increase from its current valuation over the next six months. He indicated, “The markets are setting the stage for a turnaround. NEAR has tested a critical support level and appears poised to sustain its position. If the range of $2.75-$3.40 remains intact, I anticipate a climb to $15 in the next three to six months.”
NEAR is currently priced at $4, showing a 1.3% decrease in the past 24 hours. Moving on, the analyst hinted at the possibility of Bitcoin (BTC) reclaiming the $60,000 zone. He mentioned, “Bitcoin has invalidated my bearish scenario by surpassing $56,000. I am looking for a scenario where we have a slight retest around $55,000-$55,500, followed by an upward trend towards $60,000-$61,000 in the upcoming week.”
Bitcoin is presently trading at $57,390. Lastly, the analyst suggested that the correction phase in the crypto market might be ending, paving the way for potential rallies among several altcoins against Bitcoin. He expressed, “The bottom seems to be in for altcoins and Bitcoin. Many altcoins’ Bitcoin pairs have been gradually rising, with various technical indicators supporting this trend. Exciting times are ahead. Congratulations on weathering the storm.”
However, he cautioned that the ETH/BTC pair could experience a deeper correction before any potential rebound. He remarked, “The current situation with ETH is concerning. The bullish divergence is not confirmed, and the outlook is increasingly negative. If Bitcoin surges to $60,000-$61,000, ETH could drop below 0.04 BTC before showing signs of a turnaround.”
The ETH/BTC pair is trading at 0.04081 BTC ($2,361) at the time of reporting, reflecting a decline of over 1% in the last 24 hours.
