A widely followed crypto analyst believes that Dogecoin (DOGE) challenger Pepe (PEPE) is gearing up for a breakout.
Analyst Michaël van de Poppe tells his 663,100 X followers that Pepe seems poised for a breakaway amid the recent rise of fellow memecoins DOGE and Shiba Inu (SHIB).
Van de Poppe says he wants to rally PEPE when resistance at $0.00000127 turns into support.
“I am looking to do some trades on PEPE as memecoins seem to be gaining some momentum.
Not only DOGE is already in my bag, SHIB is also showing momentum, so PEPE follows along.
Flip of $0.00000127 is a trigger (if we take out the high of $0.00000135).
At the time of writing, PEPE is trading at $0.00000135.
Van de Poppe is also updating his view of the decentralized oracle network Chainlink (LINK). The trader says he wants to add to his LINK stacks if it falls to $7.30 as he expects the altcoin to rise to $8.44.
“Personal interest in Chainlink for an add-on.
Expecting us to continue towards the highs [this] week.”
At the time of writing, LINK is trading at $7.38.
Turning to Bitcoin (BTC), Van de Poppe says he is still bullish on the best cryptocurrency by market cap, despite the choppy price action. The analyst says he is looking at two scenarios to gobble up BTC.
“Extremely amazing price action on Bitcoin lately.
I’m still in favor of upside momentum and I think we’ve bottomed out and not getting that heavy correction.
However, if we lose $29,000, then I’m a buyer for $28,200.
Flip $29,700 = party.
At the time of writing, Bitcoin is worth $29,234.
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