Undervalued Ethereum Altcoin Poised for Potential Bullish Move, According to Crypto Analyst Michaël van de Poppe

An Undervalued Altcoin Ready for a Bullish Breakout, According to Crypto Analyst Michaël van de Poppe

Are you curious about potential opportunities in the crypto market? Well, according to renowned crypto analyst Michaël van de Poppe, there might be an undervalued altcoin that is primed for a bullish breakout. Van de Poppe, who has a significant following on social media, suggests that Chainlink (LINK), a blockchain oracle, could be on the verge of a breakout against Bitcoin (BTC).

Van de Poppe explains that although Chainlink has recently dipped towards the lower end of its trading range, there is a possibility for an upward trend if it establishes a higher low price against Bitcoin on the weekly timeframe.

To confirm this potential upward trend, Van de Poppe recommends keeping a close eye on whether Chainlink can sustain a price above 0.000216 BTC ($5.57) after reaching 0.000236 BTC ($6.08).

Currently, LINK/BTC is trading at 0.000241 BTC ($6.17). However, Van de Poppe believes that the market has not fully priced in Chainlink’s recent launch of the Cross-Chain Interoperability Protocol (CCIP), which has the potential to significantly boost the network’s value, similar to Ethereum’s transition from proof of work to proof-of-stake.

Van de Poppe emphasizes that despite Chainlink’s lackluster price action in recent times, the altcoin’s integration of CCIP presents a promising opportunity for investors. He notes that the current valuation of Chainlink is still down 85% from its all-time high, emphasizing the potential for significant growth.

So, while the price action may not currently reflect strong momentum, Van de Poppe advises that uncertain periods often present the best opportunity for substantial profits. Keep an eye on Chainlink as it may be the one.

It’s worth mentioning that Chainlink has faced sideways movement for over 15 months and a downward trend against Bitcoin for more than three years.

Hot Take:

If you’re looking for a potential altcoin breakout, Chainlink might be the one to watch. With the recent launch of the Cross-Chain Interoperability Protocol, Chainlink’s value could soar. Don’t be deterred by its lackluster price action – uncertain times often bring the biggest returns. Stay informed and seize the opportunity!