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.
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The post Chainlink, Decentraland and One Additional Altcoin Gearing Up for Breakouts: Analyst Michaël van de Poppe appeared first on The Daily Hodl.
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