Analyst Predicts Rallies for Chainlink, Updates Outlook on Polygon, Floki and One Additional Altcoin
A closely followed crypto analyst is unveiling his forecast for a handful of altcoins including Chainlink (LINK), Polygon (MATIC) and Floki (FLOKI).
Trader Michaël van de Poppe tells his 659,400 Twitter followers that he’s bullish on the decentralized oracle network Chainlink.
According to Van de Poppe, he’s looking for LINK to rally to $8 as long as it stays above its immediate support.
“Chainlink looks positive.
[LINK] broke back into the range, as we’ve had a slight deviation beneath the lows, resulting in a test at $5.
As long as $5.50-6.00 sustains as support, the markets are looking at a case where we’ll be sweeping the highs.
Resulting in a rally to $8.”
At time of writing, LINK Is trading for $6.14.
Next up is the blockchain-scaling solution Polygon. Van de Poppe says that MATIC appears poised for a burst to the upside after starting June on a bearish note.
“This one looks decent. Massive cascade to $0.50 resulting in a chain reaction of liquidations on the long side. Those have all been taken. Likely that we’ll be breaking up, needs to flip $0.75. Looking to long a retest around $0.55 or flip $0.75.”
At time of writing, MATIC is trading for $0.65.
Another altcoin on the trader’s list is the memecoin Floki. According to Van de Poppe, FLOKI is currently in the middle of a trading range, and he’s looking for the memecoin to either test its support or break above its range high before accumulating the token.
“Just like many altcoins, it’s in between levels.
Preferably, you’d want to see a case of an HL (higher low) being made here (technically we trend down).
If $0.0000235 holds, longs are game.
Best case: Flip $0.0000308.”
At time of writing, FLOKI is worth $0.000026.
The last altcoin on the analyst’s radar is OKB, the utility token of the crypto exchange OKEx. According to Van de Poppe, he’s expecting OKB to rally as long as it respects support at $42.
“Meanwhile, OKB is doing well as an asset.
I’m expecting OKX to become a prominent player in the coming few years in the markets and OKB starts to show strength.
If we hold above $42 and break $47, I expect $59 is next.”
At time of writing, OKB is trading for $44.34.
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