Crypto Strategist forecasts rally for Ethereum and Chainlink, updates Outlook on polygon and optimism
A widely followed analyst predicts breakouts to the upside for Ethereum (ETH) and Chainlink (LINK) while keeping his radar locked on Polygon (MATIC) and Optimism (OP).
Crypto strategist Michaël van de Poppe says his 649,700 Twitter followers that Ethereum is starting to show signs of strength after managing to stay above the $1,600 support.
“Ethereum showed that the $1,600 level was strong enough for a bounce, but the first level rejects immediately.
I think we will continue to trend higher, but the ultimate question is whether we get a new entry for this long trade.”
At the time of writing, ETH is worth $1602.
Looking at the decentralized oracle network Chainlink, Van de Poppe believes that LINK may witness extended rallies.
“Chainlink looks decent for continuation towards $10.”
At the time of writing, LINK is trading at $7.40, suggesting an upside potential of over 35% if it hits the trader’s target.
Next up is blockchain scaling solution Polygon, which Van de Poppe plans to raise to around $1.25.
“Still waiting patiently for a long time MATIC at lower limits of the markets.”
At the time of writing, MATIC is trading at $1.27.
The last coin on the trader’s list is Ethereum layer-2 scaling solution Optimism. According to Van de Poppe, OP looks poised to print a new all-time high (ATH).
“This one is eager for a breakout above ATH.
I would like to see this area around $2.80 held for support, not lower than $2.65.
If that is the case, the markets are done correcting and we are heading towards $3.50+ for OP.”
At the time of writing, OP is worth $2.88.
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