Crypto Analyst Michaël van de Poppe Says This Low-Cap AI Token Is Poised to Rally

Crypto trader Michaël van de Poppe tells his 722,600 followers on the social media platform X that the 346th-largest crypto by market cap, Covalent (CQT), is primed to rally.

One crypto analyst believes an artificial intelligence (AI) token is preparing to rally.

Michaël van de Poppe, a crypto trader, told his 722,600 followers on the social media platform X that Covalent (CQT), the 346th-largest crypto by market cap, is gearing up for a rally.

“CQT is currently back to the levels of November 2023.

A harsh correction since the peak in February.

Expecting to see the price of Covalent rally up significantly, since their recent new updates.”

CQT is trading for $0.163 at the time of writing, up 2.2% on the day.

Zooming out to Bitcoin (BTC), van de Poppe warned the crypto king may drop lower before rising again.

“This would likely be the case for Bitcoin.

Preferably we sweep the $60,000 area where a bullish divergence kicks in.

Reversal coming from next week with the impending Ethereum ETF (exchange-traded fund) listing.”

BTC is trading for $61,487 at the time of writing, up 0.8% in the last 24 hours.

Finally, the analyst said that Ethereum (ETH) is facing a difficult “grind” upward against BTC (ETH/BTC).

“From a technical standpoint, ETH has been holding a crucial level for support.

I think we’ll continue to grind upwards from here.

If it can get towards 0.06 BTC ($3,690), then I’m assuming we’ll see a big breakout & Altcoin strength for the remainder of the year.”

ETH is trading for 0.056 BTC ($3,444) at the time of writing, down 2.3% on the week.