One of the legendary analysts, Michael van de Poppe, made new explanations for four altcoin projects. The analyst locked his radar on Polygon (MATIC). It also shows interest in Optimism (OP), the popular Ethereum layer-2 solution. On the other hand, it comes to the fore with bullish expectations for Ethereum (ETH) and Chainlink (LINK). Here are the details…
Altcoin comment came from the famous analyst
A widely followed analyst predicts bullish bursts for Ethereum (ETH) and Chainlink (LINK) while locking his radar on Polygon (MATIC) and Optimism (OP). Crypto strategist Michaël van de Poppe told his 649,700 Twitter followers that Ethereum started showing signs of strength after it managed to stay above the $1,600 support. According to the analyst, Ethereum showed that the $1,600 level was strong enough for a bounce. But he pointed to the possibility of rejection of the first levels.
Continuing to convey his thoughts on the largest altcoin by market cap, the analyst said, “I think we will continue to follow a higher trend,” but pointed out that the ultimate question is at what level to enter to open a long position.
On the other hand, looking at the decentralized oracle network Chainlink, Van de Poppe thinks LINK may witness prolonged rallies. The analyst argues that Chainlink is in a good spot to continue towards $10. According to cryptokoin.com data, LINK is trading at $ 7.40 at the time of writing this article. So, if the trader hits his target of $10, he will have risen more than 35 percent from his current level. This is not an acceleration to be taken lightly.
What’s next for MATIC and OP?
On the analyst’s list is Polygon, the blockchain scaling solution that Van de Poppe plans to raise at around $1.25. The analyst states that he is waiting for a long position in MATIC, “at the lower limits of the market” for purchase. The MATIC is changing hands at $1.27 at the time of writing.
The last coin on the trader’s list is Optimism, the Ethereum layer-2 scaling solution. According to Van de Poppe, the OP looks set to record an all-time high (ATH). The analyst even suggested that the OP was “desperate” to experience a break above record levels. The analyst stated that he would like to see this area hold $2.80 for support. He also pointed out that he wants to see a minimum of $2.65 with the rise.
At the time of writing, the OP is valued at $2.89. With the OP continuing at the aforementioned levels and the markets completing the correction, $3.50 is next. However, it should be underlined that these are only analyst views. Every investor should make his investment in line with his own research.
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