A much-followed crypto strategist predicts what’s next for a handful of altcoins, including Pepe (PEPE), Chainlink (LINK), and Avalanche (AVAX).
Analyst Michaël van de Poppe tells his 657,100 Twitter followers that crypto bears are still in control of the memecoin Pepe.
Van de Poppe says Pepe’s downtrend is likely to continue unless bulls regain a key price level.
“This chart continues the downtrend, meaning that each resistance block is effectively an area that is too short, as is the $0.0000016 area.
I’d rather see that recovered, if you want to lung, otherwise short to $0.00000147 and $0.00000115 or even $0.00000085.”
At the time of writing, Pepe is trading at $0.00000158.
The next step is the decentralized oracle network Chainlink. Van de Poppe believes LINK is still trading sideways between USD 6 and USD 6.85. According to the analyst, a $6.85 break is likely to trigger bullish momentum for LINK.
“Not much to see at the moment, slight intraday bounce, but should continue breaking $6.85.
If that happens, we could see another rally to range highs.
Until then, target $6 and $5.50 for potential areas of support.
At the time of writing, LINK is worth $6.49.
Another altcoin on the trader’s list is the smart contract protocol Avalanche. According to Van de Poppe, AVAX is sending a bullish signal and could be gearing up for a burst to the upside.
“This one turns into a bullish divergence on higher time frame support.
Nothing has been confirmed as everything is tied to BTC, but a $14.80 rebound would bring strong confirmation of the bullish divergence for Avalanche.
At the time of writing, AVAX is trading at $14.66.
The latest altcoin on the analyst’s radar is the blockchain-based video-sharing project Verasity (VRA). Van de Poppe says VRA is approaching a key support level at $0.00395 that could potentially trigger a bounce for the altcoin.
“Marked this level months ago as a potential focus.
Finally made it to the area, allowing longs to be played on VRA from here.”
At the time of writing, VRA is worth $0.0045.
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