Heres Whats in Store for Pepe, Chainlink, Avalanche and One Additional Altcoin, According to Popular Analyst
A widely followed crypto strategist is predicting what’s next for a handful of altcoins, including Pepe (PEPE), Chainlink (LINK) and Avalanche (AVAX).
Analyst Michal van de Poppe tells his 657,100 Twitter followers that crypto bears are still in control of the memecoin Pepe.
Van de Poppe says that Pepe’s downtrend will likely persist unless bulls reclaim a key price level.
“This chart continues the downtrend, which means that every block of resistance is basically an area to short, just like the $0.0000016 area.
I’d prefer to see that reclaimed, if you want to long, otherwise short until $0.00000147 and $0.00000115 or even $0.00000085.”
At time of writing, Pepe is trading for $0.00000158.
Next up is the decentralized oracle network Chainlink. Van de Poppe believes that LINK is still trading sideways between $6 and $6.85. According to the analyst, a breach of $6.85 will likely trigger bullish momentum for LINK.
“Not showing much at this point, slight intraday bounce, but needs continuation through breaking $6.85.
If that takes place, we can start seeing a rally toward range highs again.
Until then, focused on $6 and $5.50 for potential support areas.”
At time of writing, LINK is worth $6.49.
Another altcoin on the trader’s list is the smart contract protocol Avalanche. According to Van de Poppe, AVAX is flashing a bullish signal and could be gearing up for a burst to the upside.
“This one is turning into a bullish divergence on higher timeframe support.
Nothing is confirmed as everything is tied to BTC, but reclaiming $14.80 would trigger strong confirmation on the bullish divergence for Avalanche.”
At time of writing, AVAX is trading for $14.66.
The last altcoin on the analyst’s radar is the blockchain-based video-sharing project Verasity (VRA). Van de Poppe says that VRA is approaching a key support level at $0.00395 that could potentially trigger a bounce for the altcoin.
“Marked this level months ago as a potential point of interest.
Finally, reached the area, through which longs could be played from here on VRA.”
At time of writing, VRA is worth $0.0045.
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This article was originally reported on The Daily Hodl.