A closely-followed crypto analyst is anticipating a price rally for an altcoin built on the Ethereum (ETH) blockchain.
a new strategy in session Michaël van de Poppe told 164,000 YouTube subscribers that the decentralized oracle network Chainlink (LINK) must overcome a critical resistance to ignite a massive rally.
“If Chainlink breaks this resistance we have here at $7.78, this is where we will start accelerating, which is the crucial resistance before $16 for Chainlink.”
At press time, the popular altcoin LINK is trading at $6.05. A move towards Van de Poppe’s goal shows the potential for upwards of 164% for the Ethereum-based altcoin.
On the other hand, while van de Poppe is optimistic about Chainlink, he adds that it is possible for the altcoin to drop below $5 before it starts to recover towards its target.
“If we fail to maintain this support level ($6), I would expect a test around $5. If we don’t really have a boost here, we’re back again ($5). I’d expect a scenario like this: For under $5 action, here [6 doların geri alınması]This is the trigger for the entry of a long position, which we will start to continue upwards.”
Van de Poppe, who also examines Bitcoin (BTC), says that the leading crypto seems ready for a rapid rise. says.
“Bitcoin still maintains the $16,750 levels, which we turned from resistance to support. If this level is maintained (and there is no sharp drop to $16,400), I think we could see a rise towards $17,400.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.
Source : Koinfinans.com
752 times read.