A broadly followed cryptocurrency strategist is predicting what’s next for a handful of crypto altcoins, including Pepe (PEPE), Chainlink (LINK) and Avalanche (AVAX) (AVAX).
Analyst Michaël van de Poppe tells his 657,100 Twitter followers that cryptocurrency bears are still in control of the memecoin Pepe.
Van de Poppe reveals that Pepe’s downtrend will likely persist unless bulls reclaim a key price level.
“This chart continues the downtrend, which implies that every block of resistance is basically an area to short, just like the $0.0000016 area.
I’d prefer to see that reclaimed, if you want to long, otherwise short until $0.00000147 and $0.00000115 or even $0.00000085.”
At the moment of writing, Pepe is trading for $0.00000158.
Next up is the decentralized oracle network Chainlink. Van de Poppe thinks that LINK is still trading sideways betwixt $6 and $6.85. Reports by the analyst, a breach of $6.85 will likely trigger positive tendency momentum for LINK.
“Not showing much at this stage, slight intraday bounce, but needs to continue through breaking $6.85.
If that takes place, we can start seeing a rally toward range highs again.
Until then, focused on $6 and $5.50 for potential support areas.”
At the moment of writing, LINK is worth $6.49.
Another crypto altcoin on the trader’s list is the smart contract protocol Avalanche (AVAX). Reports by Van de Poppe, Avalanche (AVAX) is flashing a positive tendency signal and may be gearing up for a burst to the upside.
“This one is turning into a positive tendency divergence on higher timeframe support.
Nothing is confirmed as everything is tied to BTC, but reclaiming $14.80 would trigger strong confirmation on the positive tendency divergence for Avalanche.”
At the moment of writing, Avalanche (AVAX) is trading for $14.66.
The last crypto altcoin on the analyst’s radar is the blockchain-based video-sharing project Verasity (VRA). Van de Poppe reveals that VRA is approaching a key level of support at $0.00395 that could potentially trigger a bounce for the altcoin.
“Marked this level months ago as a potential point of interest.
In the end, reached the area, through which longs may be played from here on VRA.”
At the moment of writing, VRA is worth $0.0045.
Generated Image: Midjourney
