Popular Twitter analyst Michaal van de Poppe believes that three major altcoin projects that started with Chainlink (LINK) are on the verge of a comeback. In his recent tweets, Poppe said that these cryptos are preparing for a trend change. Let’s keep in mind that estimates are not precise.
“Ready to change the trend for these 3 altcoin rallies”
While LINK’s price behavior is alarming, the crypto analyst assures 601,300 Twitter followers that he believes it will find support and trigger rallies in the near future.
It’s not the best situation, but it’s the current situation. In these conditions, I foresee a push towards $12.50 followed by a bearish breakout and a few retests before the bullish continuation.
At the time of writing, Chainlink (LINK) is trading at $ 7.02, up about 7% on the day. It has lost more than 15% in value since last week. A jump to $12.50, pointed out by the analyst, will mean a 64% gain. Meanwhile, LINK is down more than 80% at $52.88 ATH.
Analyst also closely monitors VeChain (VET)
Van de Poppe then evaluates VeChain (VET), a blockchain focused on enterprise solutions. Although VET has fallen a lot from its all-time high, the crypto analyst believes the bear market is nearing its end.
That’s pretty simple to say. The support around $0.045 disappeared and the price started to slide towards the top of the previous cycle in 2020. I expect a lot of resistance and some sideways movement. The bear market should be nearing its end.
Van de Poppe finally looks at Verasity (VRA), a next-generation video-sharing blockchain network. Despite the fact that VET price is experiencing a significant bear market, Poppe believes the VRA will retest lower levels before it turns around.
Final bottom could be $0.0035, but market structure will determine this. Overall, I expect a 40-60% increase in the upside pace towards $0.012 to retest the downtrend.
Verasity is trading at $0.008221 at the time of writing. As Kriptokoin.com, we have included the latest developments from the collapse of LUNA and UST, which affected the entire altcoin market.
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