A widely followed crypto strategist predicts the next developments of several altcoins including Pepe (PEPE), Chainlink (LINK) and Avalanche (AVAX).
Analyst Michael van de Poppe told his 657,100 Twitter followers that crypto bears still dominate memecoin Pepe.
Van de Poppe said Pepe’s downtrend is likely to continue unless the bulls regain key price levels.
“This chart continues its downtrend, which means that all resistance blocks are basically areas to short, as is the $0.0000016 area.”
If you want to go long, we want you to recover, otherwise short to $0.00000147 and $0.00000115, and then to $0.00000085. ”
At the time of this writing, Pepe’s trading price is $0.00000158.
Next is the decentralized oracle network Chainlink. Van de Poppe believes LINK is still trading flat between $6 and $6.85. Analysts say a breakout of $6.85 is likely to generate bullish momentum for LINK.
“Not much indication at the moment, a slight intraday rally, but needs to continue until it breaks out of $6.85.
If so, we could see another rally towards the range highs again.
Until then, we had focused on $6 and $5.50 as potential support areas. ”
At the time of this writing, LINK is worth $6.49.
Another altcoin on the trader’s list is the smart contract protocol Avalanche. Van de Poppe says AVAX is sending a bullish signal and may be gearing up for a big rally.
“This is turning into a bullish divergence on higher timeframe support.
Nothing is confirmed as everything is tied to BTC, but a pullback of $14.80 would trigger a strong confirmation of Avalanche’s bullish divergence. ”
At the time of this writing, AVAX is trading at $14.66.
The final altcoin that analysts are looking at is blockchain-based video-sharing project Verasity (VRA). Van de Poppe says the VRA is approaching $0.00395, a key support level that could trigger an altcoin rally.
“We marked this level as a potential focus a few months ago.
Finally reached the area where long can play from here in VRA. “
At the time of writing, the VRA is worth $0.0045.
Never Miss a Beat – Subscribe to receive encrypted email alerts delivered directly to your inbox
Check price action
follow me twitter, Facebook and telegram
surf the daily hoddle mix
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should conduct due diligence before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: Midjourney