A widely followed analyst has updated his forecasts for several altcoins on his radar. According to the popular analyst, Ethereum (ETH) and Chainlink (LINK) may exhibit upward movements.
Crypto strategist Michaël van de Poppe said Ethereum first started showing signs of strength after it managed to stay above the $1,600 support. stated.
“Ethereum showed that the $1,600 level is strong enough for a bounce. (…) I think we will continue to follow a more uptrend, but the final question is whether we can make another entry for this long trade.”
At press time, the leading altcoin ETH is trading at $1,602. Another alcoin decentralized oracle network on Van de Poppe’s radar is Chainlink. The crypto analyst thinks LINK may witness prolonged rallies.
“Chainlink looks good to continue towards $10.”
LINK is trading at $7.40 at press time, showing the potential for a rise of over 35% if the investor hits their target.
Next The altcoin is Polygon, the blockchain scaling solution that Van de Poppe plans to raise at around $1.25.
“Still, I’m patiently waiting for the lower end of the markets for long on MATIC.”
At the time of writing, the MATIC is trading at $1.27.
The last altcoin on Trader’s list is Ethereum layer-2 scaling solution Optimism. According to Van de Poppe, the OP looks poised to hit an all-time high (ATH).
“This altcoin is looking forward to a break above ATH. I would like to see this area around $2.80 protected as support, not falling below $2,655. If that is the case, the markets complete the correction and we rush towards $3.50 for the OP.”
The OP is trading at $2.88 at press time.
You can follow the current price action here.