Three Things to Know
Michaël van de Poppe says he is fully invested in altcoins and waiting on an Ethereum breakout.
ETH still trades below both its 50-day and 200-day averages, though momentum has started to improve.
A crowded ceiling near $2,320 now separates Ethereum from the signal he wants.
Veteran trader Michaël van de Poppe says a breakout in Ethereum could start a broad rally across smaller tokens.
The call matters because ETH usually sets the pace for the altcoin market, and it has spent the past month falling. Sellers still lead the trend, while early momentum signals hint at fatigue.
Van de Poppe Bets the House on Altcoins While Waiting for Ethereum
The trader and market analyst is holding his altcoin positions while he waits for one signal from the market leader.
His view on ETH is bullish but conditional. He wants to see Ethereum break out first. He gave no price target and no time frame for the move.
The reasoning rests on market habit. Ethereum usually sets the direction for smaller tokens, so a decisive ETH move often pulls the rest of the altcoin market with it. Van de Poppe said such a breakout could set off “party time” for altcoins.
The chart has not delivered that signal yet. ETH trades near $2,220 and has lost about 18% over the past month. A slide through support would prove the call wrong.
Ethereum Trades Beneath Both Averages It Needs to Reclaim
Ethereum (ETH) daily price with the nearest support (green) and resistance (red). Source: TradingView
Ethereum sits below both of its long-watched trend lines. The 200-day moving average, which tracks the average closing price over roughly the past year, runs near $2,310. The 50-day average, a shorter gauge of the recent trend, sits higher at about $2,400.
Both lines now act as ceilings. Any rally toward them would meet traders who bought higher and want to exit near break-even.
Recent trading has been quiet. ETH ended the past 24 hours flat and is down about 1% on the week. After the steep monthly slide, the market looks paused.
Until ETH closes back above both averages, the trend still points down.
Sellers Still Lead but Their Grip Is Loosening
The daily RSI, a 0 to 100 gauge of momentum, reads about 39. That is weak territory, yet still well above the oversold line at 30, so sellers have room to push further.
Another gauge offers a softer signal. The MACD, which compares short and longer price averages, has crossed above its signal line. That shift suggests selling pressure is starting to fade.
Trend strength readings still confirm a real downtrend led by sellers. Any improvement is early.
One Crowded Ceiling Stands Between ETH and the Breakout Call
On the daily chart, the nearest resistance sits near $2,320. That level lies just above the 200-day average, so the two form one crowded ceiling. Sellers have defended this area during the recent slide.
The next barrier lines up with the 50-day average. A daily close above it would match the breakout he wants.
Support rests lower, near $1,940. A break there would expose the next floor around $1,850.
Two Paths for the Next Three Days
The next few sessions should show whether ETH can turn its pause into a base.
Bullish: A daily close above nearest resistance would open a run toward the 50-day line. A drop back to today’s price area would cancel this setup.
Bearish: A rejection at that resistance could send ETH sliding toward first support. A close above the 50-day line would invalidate this path. A break of first support would point toward the next floor.
The Party Needs an Invitation From the Chart
The trader’s optimism comes with a condition Ethereum has not met. For now, the “party” he describes remains a plan on paper.
The risk sits on the other side. A downtrend led by sellers can run further before any breakout shows up. Traders following his lead may want to keep position sizes small enough to survive that wait.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
