Michaël van de Poppe, a widely followed cryptocurrency strategist, says he expects rallies for three altcoins, including decentralized oracle platform Chainlink (LINK) and metaverse project Decentraland (MANA). Here are the details…
Michael van de Poppe expects a rise for popular altcoin projects
Famous analyst Van de Poppe told 604,200 Twitter followers that Chainlink’s value from its all-time high of $53 was 86 percent. He said he was preparing for a potential leap forward after losing his rank. “LINK is still experiencing a major correction since its all-time high in 2021,” said the analyst, suggesting that an upside break will also be observed. According to the analyst, who stated that $ 7.5 must be broken for the rise, if this level is broken, $ 9 and $ 10 can be seen, respectively.
Another altcoin analyzed by Michael van de Poppe, as we have also reported as Kriptokoin.com, the token of the popular metaverse Decentraland was MANA. Van de Poppe says this altcoin needs to break the initial resistance at $1.12 to trigger an exit rally. “It is facing lower time frame resistance around $1.12. If this breaks down and we reverse the trend (as the scenario shows), a long trigger towards $1.40 will be activated.” The analyst points to $0.99 and $1.04 for support in Decentraland.
What are the prospects for RUNE?
The last cryptocurrency on the investor’s radar has been THORChain (RUNE), a Blockchain platform designed to facilitate the secure and inexpensive transfer of assets between different Blockchains. According to Van de Poppe, RUNE must stay above the $2.90 support to have any chance of rising to $3.28. The analyst uses the following expressions:
RUNE is showing some momentum here, like everything else. BTC parity is falling and I think the decline will continue a little longer (Dominance is increasing). However, USD can be traded. I would like to see it hold near $2.90 to prevent further declines.
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