Accoridng to the latest reports, there is a popular analyst is bullish on the short-term prospects of three altcoins despite the gloomy sentiment surrounding the crypto markets.

Crypto strategist Michaël van de Poppe said that the leading smart contract platform Ethereum (ETH) appears poised for a quick rally after recapturing key low timeframe support.

Ethereum needs to break $1,100

“Ethereum needs to break $1,100 and then we can target $1,250.”

Now, Ethereum is swapping hands for $1,145, a 27% increase from its yearly low of $897.

The analyst also addresses Binance Coin (BNB), the utility token of crypto exchange Binance.

According to Van de Poppe, BNB looks to be gearing up for a bullish continuation.

“Shared this one earlier, in which the crucial area to hold was the region around $215. Holding nicely for BNB, expecting continuation to $240 or $257 next.”

Binance Coin state

At time of writing, Binance Coin is trading at $231.71, up nearly 25% from its 2022 low of $186.

The last coin on Van de Poppe’s radar is Fantom (FTM), a smart contract platform designed for decentralized applications.

According to the crypto strategist, he’s looking for FTM to reclaim a key support area to sustain its bullish momentum.

“This one needs to flip crucial level: FTM. Looks fine anyway, but flipping $0.26 would trigger bullish continuation to possibly new highs.”

Looking at Van de Poppe’s chart, a move above $0.26 could trigger a rally to $0.29 for FTM.

At the of writing, Fantom is valued at $0.257, down over 3% in 24 hours but up over 22% from this year’s low of $0.199.

Assets with true utility and value

The analyst says most assets with true underlying utility and value will revert to their mean.

This is exactly the reason for which he expects both Tesla and Bitcoin to post rallies starting in about half a year.

Stay tuned for more news and make sure to check out the crypto market.

The post Bullish Continuations Are Imminent for Ethereum, Binance Coin and Fantom, According to Analyst Michaël van de Poppe first appeared on CryptoGazette - Cryptocurrency News.