Crypto strategist Michaël van de Poppe anticipates a significant shift in Ethereum’s market trend. Van de Poppe shared with his 717,600 followers on social media platform X that he does not expect the U.S. Securities and Exchange Commission (SEC) to approve pending applications for Ethereum exchange-traded funds (ETFs) in the near future. The SEC is scheduled to make a decision on the ETF applications submitted by financial giants Hashdex and Ark 21Shares on May 30th, after delaying it in March. Van de Poppe believes that the SEC’s decision will be a crucial point for Ethereum, the leading altcoin by market cap. He predicts that Ethereum’s price will initially drop below $2,700 before reversing and rallying to $3,800. At the time of writing, Ethereum is valued at $2,920.

Van de Poppe also expresses optimism about AIOZ, a layer-1 crypto project. He expects AIOZ to maintain its bullish momentum as long as it stays above $0.65. If the price falls below that level, it could enter a long-term investment region. However, if the support holds, Van de Poppe predicts that AIOZ could potentially reach $1.35-1.45.

Another altcoin on Van de Poppe’s radar is Arbitrum, an Ethereum scaling solution. He believes that Arbitrum is approaching its bottom, as it has undergone a significant correction. Van de Poppe suggests that the markets often fill the gap left by such corrections in the following weeks.

Lastly, Van de Poppe mentions Verasity’s native asset, VRA. He notes that VRA is currently in a downtrend and may find support at $0.004. Van de Poppe considers this a common retracement for altcoins in this phase of the market cycle and believes that the support level has the potential to hold.

It is important to note that the opinions expressed by Van de Poppe are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets.