With the crypto market in a bloodbath, popular crypto analyst and trader Michaël van de Poppe shares his predictions for the four Chainlink (LINK), Uniswap (UNI), Fantom (FTM) and VeChain (VET) following the extended crypto market correction.
Analyst’s LINK and UNI estimates
Popular analyst Michaël van de Poppe, familiar with cryptokoin.com news, says looking at past cycles can be a good barometer for what may be on the horizon. The analyst begins by discussing the price history of the decentralized oracle network Chainlink (LINK), noting that
In the previous cycle, we had a big run before, and then we had a long-term rally before starting a pullback or another rally to Chainlink. we have accumulated. The big run in 2019, LINK was one of the top earners at that time. We will retest this major bearish bid block (between $1.50 and $2.00) before we start working again.
Van de Poppe says that LINK is now following a similar pattern to what it traded in March 2020.
In transitioning to decentralized crypto exchange Uniswap (UNI), the crypto guru states that the altcoin has followed the trend of many altcoins over the past year, followed by a series of declines.
VeChain and Phantom predictions
Next up is VeChain (VET), the supply chain management blockchain that the analyst says has been doing well recently. “VeChain is also doing a good run,” said the analyst:
And looking back from the previous run, we had this burst as well, and then we retested the previous high and this whole block. So going below the previous high on this assumption doesn’t make sense. I would definitely start accumulating already and as a result we can say that we are down 85% and we are entering interesting territory here ($0.03 to $0.004).
Michaël Van de Poppe ends the altcoin deep-dive with the enterprise-grade blockchain platform Phantom (FTM), saying that investors looking for an entry point should beware of periods involving consolidation or side accumulation.
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