A top cryptocurrency strategist predicts a sustained uptrend for a handful of altcoins such as Cardano (ADA) and Chainlink (LINK).
Michael van de Poppe has told his 621,500 Twitter followers that smart contract platform Cardano appears to be gearing up for another rise.
“We are looking for a continuation as we have been testing the resistance zone many times. A breakout of $0.55 will trigger a continuation towards $0.67 and the reversal will also trigger a long entry.”
At the time of writing, ADA is trading at $0.50, down 4.65% for the day.
Next is the decentralized oracle network Chainlink. Van de Poppe said he expects LINK to correct to around $8 before igniting a new rally.
“This is trending upward.
What looks like a $8 reversal can continue towards $12-$12.50.
At current prices, it’s still a once-in-a-lifetime opportunity. Medium targets are $13.50-$15.00. The masthold range is $7.50-$8.00. ”
At the time of writing, LINK is trading at $8.46, down nearly 4% for the day.
Another altcoin that traders are eyeing is the smart contract protocol Fantom (FTM). According to Van de Poppe, FTM can explode as long as it remains above critical support levels.
“Looks strong and on the upside. I am still in long positions and trading in between… hopefully if $0.34 holds up it will continue towards $0.45 and $0.50. I have.”
At the time of writing, FTM is down over 5% in the last 24 hours and is trading at $0.36.
The final coin is Quant (QNT), a protocol that aims to allow multiple blockchains to interact seamlessly. Van de Poppe said QNT is on a strong uptrend and is waiting for a drop to $110.
“It’s showing strength and that’s a good thing… the $140 area is resistance. $110 [is] range [for] Possibility of long entry. ”
At the time of writing, QNT is valued at $122.74, down 2.74% on the last day.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/d3verro