The altcoin market is showing signs of life after a brutal late-May correction that saw Bitcoin tumble to $30,000. With BTC recovering to approximately $35,800 by June 6, 2021, prominent crypto analyst Michaël van de Poppe believes a new altseason could be on the horizon, spotlighting three crypto assets he says are ready to ignite.
TL;DR
- Altcoin market cap holds above the 21-weekly moving average, a bullish signal according to analyst Michaël van de Poppe
- Curve Finance (CRV) approaching key breakout level against BTC, on the verge of retaking 100-day and 200-day moving averages
- KAVA recovers to $5.00 after crashing to $2.50 in late May, showing higher highs and higher lows pattern
- Ethereum holding critical $2,600 support, eyeing a push toward $3,400 if it can break $2,900 resistance
- Solana leads altcoin gains with a 47.92% weekly surge, trading at $42.31
Altseason Thesis Remains Intact
Despite the dramatic sell-off that rattled crypto markets in late May 2021, van de Poppe tells his 103,000 YouTube subscribers that the broader altcoin bull run is far from over. The key indicator he points to is the total altcoin market capitalization, which continues to hold above the 21-weekly moving average (21 WMA) — a level that historically signals whether the uptrend has momentum or is losing steam.
“We are still acting above the 21 WMA, meaning that the chances of us continuing the grind to the upside are significant,” van de Poppe explains. “Many altcoins are going to make new highs in their USD and Bitcoin pairs. The altcoin market cap currently holding above the 21 WMA is a very bullish trigger and a good signal of the momentum we have.”
The analyst goes further, suggesting that the summer of 2021 could deliver outsized returns for altcoin holders who accumulate at current levels. His conviction stems from the observation that the structural uptrend in altcoins has not been broken, even though the late May crash wiped out billions in market value.
Three Altcoins Poised for Breakouts
Van de Poppe identifies Curve Finance (CRV) as his first pick. The automated market maker and DeFi protocol is approaching a critical juncture in its Bitcoin pair (CRV/BTC). According to the analyst, CRV is on the verge of flipping back above the 100-day and 200-day moving averages, which would provide a strong support base for a breakout from its current accumulation range toward new highs.
His second pick is KAVA, the cross-chain lending platform. After crashing from highs above $8.00 down to approximately $2.50 during the May correction, KAVA has staged a strong recovery back to the $5.00 level. Van de Poppe highlights that KAVA/BTC is printing higher highs and higher lows, indicating a momentum shift that could carry the token into a new cycle against Bitcoin.
The third asset in his spotlight is Ethereum itself, which van de Poppe describes as “the key momentum indicator for altcoins.” ETH is holding the $2,600 support zone well and is attempting to push through resistance at $2,900. The analyst notes that repeated tests of this resistance level are weakening it, setting the stage for a potential surge toward $3,400.
Broader Altcoin Market Shows Strength
Beyond van de Poppe’s picks, the broader altcoin market paints an encouraging picture as of June 6, 2021. Binance Coin (BNB) trades at $393.82 with a 20.88% weekly gain. Cardano (ADA) sits at $1.68, up 6.40% over the past seven days. Dogecoin (DOGE), fueled by continued social media attention, holds at $0.3718 with a 23.02% weekly increase.
Perhaps the most striking performer is Solana (SOL), which has surged 47.92% in just one week to reach $42.31. The high-performance blockchain’s impressive rally underscores the appetite for Layer 1 alternatives even as Bitcoin works through its post-crash recovery phase.
Other notable altcoins showing resilience include Polkadot (DOT) at $24.20 (+18.21% weekly), Chainlink (LINK) at $27.55, and Polygon (MATIC) at $1.58. The total cryptocurrency market capitalization stands at approximately $1.54 trillion, with altcoins collectively representing a significant share of that value.
Bitcoin Death Cross Looms in the Background
While altcoins show promise, a bearish cloud hangs over Bitcoin. Analyst Benjamin Cowen warns that the 50-day and 200-day moving averages are converging toward a “death cross” — a technical pattern widely interpreted as a strongly bearish signal. According to Cowen, Bitcoin would need to climb by approximately $800 per day on average through June to avoid this crossing, which would put BTC back at $60,000 by early July.
However, van de Poppe downplays the significance of the death cross, arguing that the two moving averages can briefly cross before uncrossing as Bitcoin resumes its rally. He is more focused on the general support area between $29,000 and $32,000 as the critical zone to hold.
Why This Matters
The tension between Bitcoin’s looming death cross and altcoins’ bullish structure creates a unique market environment. If BTC can stabilize and begin recovering, the altcoins currently holding above their key moving averages could be primed for explosive moves. For traders and investors, van de Poppe’s analysis suggests that the current consolidation phase may represent a final accumulation window before a potential summer altcoin rally. The fact that the total altcoin market cap remains above the 21 WMA despite a 45% Bitcoin crash is a testament to the underlying strength of the alt market in mid-2021.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
van de poppe called SOL at 42 when everyone was traumatized by the may crash. that take aged better than almost anything from that summer
KAVA from $2.50 to $5.00 was a nice trade. too bad it went right back down a month later. classic dead cat
kava 2.50 to 5.00 in two weeks was insane. caught that bounce and still got out before it round tripped. one of my best trades of 2021
Pawel D. catching the kava bounce and exiting before the round trip is the actual skill. most people held all the way back down convinced it was going to 10
kava was a classic pump dressed up as a breakout. van de poppe called the trade right but holding was the mistake
Dmitri V. kava went from 2.50 to 5.00, thats a 2x. calling it just a pump when van de Poppe nailed the entry is unfair imo
crv diver kava from 2.50 to 5.00 was a clean 2x but it round tripped within a month. calling it a breakout was generous, more like a relief bounce
kava going from 2.50 to 5.00 was a 2x not a breakout. calling van de Poppe a genius for spotting a low cap pump is generous
kava doubling off 2.50 while BTC chopped around 35k is literally what a breakout candidate looks like on the way up. he flagged the structure before the move, calling it a low cap pump after the fact is cheap
solana at $42 with a 47% weekly gain. if you held through the summer you saw $200+. those were the days
sol at 42 was the buy signal of the cycle and most people slept on it because the may crash gave everyone ptsd
CRV approaching the 100 and 200 day moving averages against BTC. van de poppe was spot on with that call actually
van de Poppe calling CRV breaking the 200-day MA against BTC was one of his better calls that summer. most people only remember the SOL pump
Renzo K. van de poppe got CRV right but his ETH 2900 call took another 3 weeks. patience was the actual trade that summer
ETH holding $2600 support while alts pump is the ideal setup. once it breaks $2900 the whole market lifts
ETH at 2600 was such an obvious accumulation zone. the 21-week MA held and everything rotated. miss those clean setups
ETH at 2600 support with alts rotating was the textbook 2021 altseason setup. you could see it from a mile away
altszn_ ETH at 2600 was obvious support but the real signal was SOL doing 47.92% in a week. that was the risk-on tell for the whole sector
altszn_ ETH at 2600 holding while alts rotated was textbook. but lets be real, nobody held through the full move. everyone took profits at 30% and watched it run another 200%
SOL at 42 with a 47% weekly pump and people were still too scared to buy. the may crash really did a number on everyone’s risk appetite
Everyone quotes Solana at 42 doing 47% weekly, but ETH holding 2,600 while the altcoin cap kept the 21-week MA was the real tell. The loud trades get remembered, the structure gets ignored.
SOL at 42 doing 47% in a week was the loudest buy signal of that cycle and half this comment section called it a trap. pattern recognition is painful
47.92% in a week at 42.31 with the rest of the market bleeding out. Every ‘trap’ comment in this thread is exactly why the move kept running.
altseason_grader everyone called SOL a trap at 42 and then fomo’d in at 180. this comments section is a time capsule of exactly how retail loses money
ltf_chad_ called it a trap at 42 then paid 180. four times the entry for the privilege of doubting the chart. this thread should be framed and hung in a trading school