Widely followed crypto strategist Michal van de Poppe is calling rallies for a trio of altcoins, including decentralized oracle platform Chainlink (LINK) and virtual reality platform Decentraland (MANA).
Van de Poppe tells his 604,200 Twitter followers Chainlink is potentially setting up for a bounce after losing over 86% of its value from its all-time high of $53.
“This one is still having a massive correction since the all-time high in 2021.
However, looking like we’ll be having an upwards breakout too.
For that, it has to crack $7.50. If that breaks, I think we’ll be seeing $9 and potentially $10 next.”
At time of writing, Chainlinkis changing hands for $7.02.
Next up is MANA, which Van de Poppe says must take out its initial resistance at $1.12 to trigger a breakout rally.
“Facing low timeframe resistance around $1.12.
If that breaks and we flip if (like the scenario gives), a long trigger is activated towards $1.40.
Supports; $0.99 and $1.04.”
Decentraland is currently trading at $1.05.
The last coin on the trader’s radar is THORChain (RUNE), a blockchain platform designed to facilitate the secure and cheap transfer of assets between different blockchains.
According to Van de Poppe, RUNE must stay above support of $2.90 to have a shot at rallying toward $3.28.
“This one is showing some momentum here, just like everything. The BTC pairs are getting crushed, and I think it will last for a bit more (Dominance going up).
However, USD trades can be done. Would like to see it hold around $2.90 to avoid further drops.”
THORChainis valued at $3.00 at time of writing.
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Upl/David Sandron/Sensvector