Crypto strategist Michaël van de Poppe suggests that Ethereum (ETH) is on the verge of experiencing a significant shift in trends. Van de Poppe, who has a large following on the social media platform X, believes that the U.S. Securities and Exchange Commission (SEC) will not approve the pending applications for Ethereum exchange-traded funds (ETFs) in the near future. The SEC is slated to make a decision on the ETF applications by Hashdex and Ark 21Shares on May 30th after delaying it in March. Van de Poppe predicts that this decision will be a turning point for ETH and the cryptocurrency market as a whole.

According to Van de Poppe’s analysis, he expects ETH to initially drop below $2,700 before rebounding and surging to $3,800. Currently, ETH is valued at $2,920.

Van de Poppe also highlights AIOZ, a layer-1 crypto project, as a promising asset. As long as AIOZ continues to trade above $0.65, he believes it will maintain its bullish momentum. If AIOZ falls below that level, Van de Poppe suggests that the long-term investment region will come into play, with a potential target of $1.35-1.45.

Another altcoin mentioned by Van de Poppe is Arbitrum (ARB), an Ethereum scaling solution. He believes that ARB is close to reaching its bottom after undergoing a significant correction. Based on his chart analysis, Van de Poppe predicts that ARB will bottom out at around $0.90.

Lastly, Van de Poppe discusses Verasity (VRA), the native asset of the video-sharing blockchain. He notes that VRA is currently in a downtrend but may find support at $0.004. Van de Poppe believes that most of the downside potential for VRA has already been priced in, and he expects the support level to hold based on historical data.

Please note that the opinions expressed in this article are not investment advice and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets.