Renowned trader Michael van de Poppe shared what he feels will need to happen before the altcoin market can rally. Read more on CE.
- Michael van de Poppe uploaded his latest technical analysis for the altcoin market.
- The trader shared that bank earnings have been the main instigator in the recent correction.
- ETH will need to strengthen against BTC before the rest of the altcoin market can rally.
The popular crypto trader Michael van de Poppe uploaded his latest technical analysis for the altcoin market to Youtube yesterday. In the video, van de Poppe stated that earnings data relating to banks has been the main driving force behind the correction seen in the crypto market recently.
The trader also shared that altcoins continue to weaken against the market leader Bitcoin (BTC), and that more investor confidence has to enter the crypto market before altcoin prices can begin to rise. In addition, van de Poppe stated that the altcoin market is entering into a period of potential resistance.