Chainlink, Decentraland and One Additional Altcoin Gearing Up for Breakouts: Analyst Michaël van de Poppe
Widely followed crypto strategist Michaël 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, Chainlink is 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.”
THORChain is valued at $3.00 at time of writing.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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
The post Chainlink, Decentraland and One Additional Altcoin Gearing Up for Breakouts: Analyst Michaël van de Poppe appeared first on The Daily Hodl.
