Crypto Analyst Michaël van de Poppe Outlines Next Steps for Cosmos, Aave, Elrond and Two Ethereum Rivals

A well-known analyst is digging into the charts to update his price targets for a handful of leading crypto assets.
Michaël van de Poppe starts by telling his 622,600 Twitter followers that he is increasing the support levels for the scalability and interoperability ecosystem Cosmos (ATOM) eye that recently gave back gains from the final leg of an extended rally that stretched back to mid-June.

“We’re at a massive support level here, suitable for long entries.

If that rate is lost, I see $8 next.

Hold here = potential trigger towards $18-20 in the coming month.”
Source: Michael van de Poppe/Twitter
At the time of writing, Cosmos is down 8.59% in the last 24 hours and is trading at $10.83.

Regarding the crypto lending protocol Aave (AAVE) the crypto strategist says he’s backing the altcoin given the recent market-wide correction as a range candidate with support at $80 and Resistance looks at $103.

“This is trending down as the entire market corrects.

Fake out above resistance and drop below $103 has accelerated the correction.

Support at $80-82. The key resistance stands at $103. Range bound plays.”
Source: Michael van de Poppe/Twitter
Aave has been in the red all week and is currently trading at $84.31, down almost 15% on the day.

Also on Van de Poppe’s watch list is the Blockchain-Platform for companies Elrond (EGLD), which has been falling continuously since August 10th. The analyst sets two support levels: one at $50 and then $44 when the first capitulates.

“An important level of support and confluence across multiple timeframes.

The gap was closed, which was practically the last. There could be arguments for a bottom around the markets.

Resistance at $57, break there = new highs. Support: $50 and $44.”
Source: Michael van de Poppe/Twitter
Elrond is down 8.79% and is changing hands for $52.37. The altcoin was trading above $69 just a week ago.

Regarding the cross-chain interoperability protocol Polka dot (DOT) the crypto analyst believes a rally to $8.40 is possible if $7.70 is reclaimed. However, Van de Poppe warns that DOT could lose support at $7.

“We look for a trigger if we retake $7.70 as a retest of $8.40 is likely.

Otherwise it will be a game of patience and see if below $7 is a trigger for long positions.”
Source: Michael van de Poppe/Twitter
Polkadot’s price reflects the overall crypto market slump as of the end of the week: DOT is currently down almost 12.5% ​​and is valued at $7.35.

The last point on Van de Poppe’s radar is EOS (EOS), an open-source decentralized platform that, with its smart contract capabilities, is a direct competitor of Ethereum (ETH) POWER.

Responding to the altcoin’s midweek rally that defied broader market trends and was soon followed by a sharp correction, the trader advises his followers not to chase coins that are already pumping.

“If you look at the structure, there is a lesson to be learned from EOS’ recent movement. Avoid chasing pumps!

In this case I would look for confirmation as we dive to $1.18 and then recapture $1.30 for long positions. Ditto for retaking the $1.40 area.”
Source: Michael van de Poppe/Twitter
On Tuesday, EOS jumped 27.9% from $1.29 to $1.65 but has since worked its way back down. At the time of writing, EOS is down 16.24% and is changing hands at $1.27.

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