According to the top analyst, the next steps are for Binance Coin, Chainlink and four other altcoins
Popular crypto strategist Michaël van de Poppe outlines what’s in store for half a dozen altcoins, including Binance Coin (BNB) and Chainlink (LINK).
Van de Poppe tells his 622,300 Twitter followers that BNB, crypto exchange Binance’s utility token, remains in a strong uptrend, but he expects a slight pullback in the near term.
“We want to see if $295 holds support. If that’s the case (and I doubt we’ll test it again), I reckon $375 is next.”
Source: Van de Poppe/Twitter
At the time of writing, BNB is changing hands for $316, flat rate per day.
Next is the decentralized oracle network Chainlink. According to the crypto strategist, he also expects a slight pullback for LINK before recovering to its upside target of $12.
“I expect $8 to be held as support and then $12 as a potential target on the board.”
At the time of writing, LINK is exchanging hands at $8.51, down 2.29% on the day.
Another altcoin on Van de Poppe’s radar is the peer-to-peer payments network Litecoin (LTC). The analyst says that LTC needs to keep its immediate support intact to maintain its uptrend.
“The trend is still up but faces a key resistance at $65. I’d like to see it sustain above $58 and look for longs around $60. If these hold up, we will no doubt see a continuation to $75 and possibly $95.”
At the time of writing, LTC is trading at $61.75, up 1% over the past 24 hours.
The smart contract platform Harmony (ONE) is also on Van de Poppe’s list. According to the trader, Harmony is flashing his bitcoin pair (ONE/BTC).
“A clear order block of support should lie around 0.00000115 BTC ($0.027). If that is the case, I anticipate another push towards 0.00000165 BTC ($0.039). Entries are also in the 0.00000114-0.00000125 BTC ($0.027-$0.030) region.
At the time of writing, ONE/BTC is valued at 0.00000124 BTC ($0.03).
The fifth altcoin is Celer Network (CELR), a scaling platform designed to enable off-chain transactions in a secure manner. Van de Poppe predicts a 40% rally for CELR as long as the bulls hold the coin’s next support.
“The trend is up as higher lows are continuously being made. I would like to see $0.0235-0.024 hold as support and then $0.034 is a possibility.”
At the time of writing, the CELR is up over 3% on the day to $0.025.
Van de Poppe is also watching the price action of the Reserve Rights (RSR) token, a cryptocurrency that aims to facilitate the stability of the asset-backed stablecoin known as Reserve Token (RSV). According to the crypto strategist, RSR is a bit difficult to trade as losing the support at $0.007 could trigger a drop of over 17%.
“Currently on support but if lost I don’t know if I want to play $0.0065 or $0.00575. Targets are clear, most likely $0.01 is doable if support holds.”
The RSR is unchanged on the day, trading at $0.0074.
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Featured image: Shutterstock/Roman Amanov
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