Crypto Analyst Predicts Covalent (CQT) Rally and Bitcoin (BTC) Correction

The crypto market is buzzing with excitement as one low-cap artificial intelligence (AI) token is catching the attention of traders. According to renowned crypto analyst Michaël van de Poppe, Covalent (CQT) is set to make a significant rally.

Van de Poppe, who has a massive following of 722,600 on X, shared his insights on the potential surge of Covalent. He highlighted that CQT has experienced a harsh correction since its peak in February but is now back to the levels of November 2023. The analyst expressed optimism about Covalent’s price rallying up significantly following recent updates.

At the time of writing, Covalent (CQT) is valued at $0.163, showing a 2.2% increase for the day. Van de Poppe also shared his thoughts on Bitcoin (BTC), suggesting that the crypto king may experience a drop before rising again. He mentioned the possibility of Bitcoin sweeping the $60,000 area, triggering a bullish divergence and leading to a reversal next week with the impending Ethereum ETF listing.

Speaking of Ethereum (ETH), Van de Poppe noted that ETH is facing a tough “grind” upward against BTC. He emphasized the importance of ETH holding a crucial support level and predicted a continued upward grind. The analyst believes that if ETH can reach 0.06 BTC ($3,690), it could signal a big breakout and strength for altcoins for the rest of the year.

As for the current prices, Bitcoin (BTC) is valued at $61,487, up 0.8% in the last 24 hours, while Ethereum (ETH) is priced at $0.056 BTC ($3,444), showing a 2.3% decrease for the week.

With the crypto market constantly evolving, traders and investors are keeping a close eye on tokens like Covalent (CQT) and the movements of major cryptocurrencies like Bitcoin and Ethereum. Stay tuned for more updates on the exciting world of digital assets.