A widely followed crypto strategist believes that a decentralized oracle running on Ethereum (ETH) is gearing up for a major market reversal.
Analyst Michaël van de Poppe tells his 733,600 followers on the social media platform X that he is optimistic about Chainlink (LINK).
Van de Poppe predicts that LINK’s immediate resistance will crumble if the altcoin experiences another upward move.
“I believe LINK will break out in the next one to two weeks.
A new test of $13 will be the trigger –> $18 next.”
At the time of writing, LINK is trading at $10.96.
Looking at Ethereum itself, Van de Poppe shares a chart that suggests ETH will rise above $3,300 if it manages to break a key resistance level.
“ETH bounced back, and now the macroeconomic weeks are upon us.
The question is: will we see upward momentum or will the $2,000 be tested again?
$2,750 testing again = outbreak.”
At the time of writing, Ethereum is worth $2,479.
The last altcoin on the trader’s radar is the original asset of the layer 2 solution Optimism (OP). According to Van de Poppe, OP is one resistance level away from a major breakout to the upside.
“I think next week will be the week the ETH ecosystem wakes up.
OP is doing great, just consolidating.
Above $1.75 = party.”
At the time of writing, OP is trading at $1.56.
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Generated image: Midjourney