According to popular crypto analyst Michaël van de Poppe, Covalent (CQT), a-cap artificial intelligence (AI) token, is expected to experience a significant rally. Despite experiencing a harsh correction since its in February, CQT has returned to November 2023 levels. Van de Pop attributes the potential rally to recent updates from Covalent.

As for Bitcoin (BTC), de Poppe suggests that it may drop lower before rising again. He believes that sweeping $60,000 area could trigger a bullish divergence and expects a reversal next week with the of an Ethereum ETF.

Analyzing Ethereum (ETH), Van de Poppe notes that faces an uphill battle against BTC. However, he remains optimistic as ETH has been holding crucial support level and anticipates continued upward movement. If ETH can reach 0.06 ($3,690), he predicts a breakout and strength in altcoins for the rest of the year.

At the time of writing, CQT is valued at $0.163 with a 2.2% increase on the day, while BTC stands at $61,487 with a 0.8% increase in the last 24 hours. ETH is currently worth $0.056 BTC ($3,444) but has experienced a decline of 2.3% over the week.

Please note that The Daily Hodl’s opinions are not investment advice and investors should conduct their own research before making high-risk investments in or digital assets.