A widely followed crypto analyst thinks an altcoin running on the Ethereum (ETH) network is gearing up for a big price rise.
Trader Michaël van de Poppe tells his 685,500 followers on social media platform
According to Van de Poppe, LINK looks bullish against both Bitcoin (LINK/BTC) and the US dollar.
“This one seems ready for a sequel.
The BTC pair is making higher highs, higher lows and has a higher support level on the time frame.
A breakout to $25-$30 is expected in the coming months.”
At the time of writing, LINK is trading at $14.72, suggesting over 100% upside potential if the ETH-based altcoin hits the analyst’s target.
Looking at layer-1 blockchain Sui (SUI), Van de Poppe believes the altcoin is likely heading towards its next support area around $0.90, before the next surge.
“This one also gets a general correction, which is fine. The optimal zone for entries is coming, before the uptrend continues.
Buy the dips.”
At the time of writing, SUI is worth $1.04.
Next up is the Ethereum scaling solution Arbitrum (ARB). Like SUI, Van de Poppe thinks ARB will see lower levels before regaining bullish momentum.
“This region between $1.40-1.85 is an area I am looking forward to positioning myself ahead of a possible run to $3.”
At the time of writing, ARB is trading at $1.71.
The last coin on the trader’s radar is the interoperable blockchain Cosmos (ATOM). Van de Poppe believes that ATOM must remain above the immediate support level to have a chance of a strong breakout rally.
“Crucial area to hold on to. If this area holds between $7.50 and $9.00, a breakout to $22-$26 seems likely next.”
At the time of writing, ATOM is worth $9.20.
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Generated image: Midjourney