According to crypto analyst Michaël van de Poppe, the top Ethereum altcoin project seems poised for a major rally
A popular crypto analyst says a blockchain oracle based on Ethereum (ETH) is poised for a bullish reversal.
Trader Michaël van de Poppe tells his 618,300 Twitter followers that Chainlink (LINK) could explode from current prices near $7 to over $10.
“Chainlink seems poised for $9.50-$10.00 and there’s not much you can do about that.
Trigger when a flip happens.”
Source: CryptoMichNL/Twitter
Diving deeper into ETH, the crypto analyst says he’d be looking for shorts on the leading smart contract platform at current prices, though he sees strength in the upcoming merger.
“Technically, here would be a brief entry on ETH.
On the downside, a lot of power with the upcoming merger, so I’d rather short with more conviction and confirmations.
The key area to hold for ETH is $1,570, if possible, continuation higher.”
ETH is trading at $1,562 at the time of writing.
Van de Poppe also believes that the Polkadot (DOT) interoperability blockchain has great upside potential.
“Something to watch on DOT.”
DOT is trading at $7.44 at the time of writing.
The trader also puts his two cents into Bitcoin (BTC) and explains what he thinks could happen next.
“Bitcoin faces crucial resistance again.
If that breaks at $23,800 I expect we’ll go ahead and then have $28,000 on the tables, but we also have a clear breakout past 200 week [moving average] Approved.”
The crypto king is currently trading at $22,941.
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Featured image: Shutterstock/GrandeDuc/Dilok Klaisataporn
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