Van de Poppe Holds Altcoin Positions as Ether Faces $2,320 Resistance

Crypto trader Michaël van de Poppe said he is fully invested in altcoins and is waiting for Ether (ETH) to break above resistance. He views an Ether breakout as a possible signal for a broader move among smaller tokens, but gave no price target or time frame.

A Nov. 6 chart setup placed the nearest resistance around $2,320, just above the 200-day moving average near $2,310. ETH was also below its 50-day average, around $2,400, after falling about 18% over the previous month.

Momentum indicators showed mixed conditions. The daily relative strength index was about 39, above the 30 level commonly used to mark oversold conditions. The moving average convergence divergence indicator had crossed above its signal line, while trend-strength readings still pointed to a seller-led downtrend.

The chart marked initial support near $1,940, with another level around $1,850. Its higher breakout condition was a daily close above the 50-day average near $2,400.