A widely followed crypto strategist is predicting what’s next for a handful of altcoins, including Pepe (PEPE), Chainlink (LINK), and Avalanche (AVAX).
Analyst Michaël van de Poppe tells his 657,100 Twitter followers that crypto bears still control the Pepe memecoin.
Van de Poppe says that Pepe’s downtrend will likely persist unless the bulls recapture a key price level.
“This chart continues the downtrend, which means that each block of resistance is basically an area to sell, just like the $0.0000016 area.
I would prefer to see that called, if you want to buy long, otherwise I short to $0.00000147 and $0.00000115 or even $0.00000085.”
At the time of writing, Pepe is trading at $0.00000158.
The next step is the Chainlink decentralized Oracle network. Van de Poppe believes that LINK is still trading sideways between $6 and $6.85. According to the analyst, a gap to $6.85 will likely trigger bullish momentum for LINK.
“Not showing much at this point, a slight intraday bounce, but it needs to continue to reach $6.85.
If that occurs, we may start to see a rally towards the highs of the range again.
Until then, focused on $6 and $5.50 for potential support areas.”
At the time of writing, LINK is worth $6.49.
Another altcoin on the merchant list is the Avalanche smart contract protocol. According to Van de Poppe, AVAX is showing a bullish signal and could be preparing for a bullish burst.
“This is turning into a bullish divergence on a higher time frame.
Nothing is confirmed as everything is tied to BTC, but claiming $14.80 would trigger strong bullish divergence confirmation for Avalanche.”
At the time of writing, AVAX is trading at $14.66.
The latest altcoin on analyst radar is the blockchain-based video sharing project Verasity (VRA). Van de Poppe says that VRA is nearing a key support level at $0.00395 that could trigger a bounce for the altcoin.
“I marked this level months ago as a possible point of interest.
Finally, he made it to the box, through which lengths could be played from here at VRA.”
At the time of writing, VRA is worth $0.0045.
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