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Renowned crypto strategist Michaël van de Poppe suggests that a potential Ethereum (ETH) competitor is poised to trigger a strong bullish phase. Van de Poppe informed his 776,000 followers on the X social media platform that the layer-1 protocol Near (NEAR) seems to be establishing a cycle bottom. According to the analyst, NEAR is likely nearing the end of its accumulation phase before initiating a bullish trend. Describing a typical altcoin bull run chart, he highlighted the process where a coin surges, corrects, and then experiences a significant run-up, which NEAR currently seems to be undergoing. NEAR is currently trading at $3.45 and is displaying a double-bottom pattern indicative of a bullish reversal.
Regarding the XRP altcoin, Van de Poppe noted that while it has already seen substantial gains in this cycle, the potential for further upside may be limited. However, he also mentioned the possibility of XRP surprising with another significant rally. XRP’s current value is $2.57.
Discussing the smart contract platform Sui (SUI), Van de Poppe expressed long-term optimism for the altcoin but cautioned that a drop to $1.50 could occur. He also projected a potential 9x rally for SUI if it enters a sustained bullish phase. SUI is currently priced at $3.41.
Lastly, Van de Poppe highlighted the layer-1 altcoin Sonic (S), emphasizing its strong uptrend and momentum, predicting it could surpass $1. Sonic’s current value stands at $0.86.
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