A popular crypto analyst has updated his forecast for several altcoins, including Chainlink (LINK) and Cardano (ADA) amid the current bear market.
Michaël van de Poppe tells 642,900 Twitter followers that decentralized oracle network Chainlink is “showing strength” amid breaking resistance told.
“I would rather stay above $7 for continuation and then target $8.50 and/or $9.25.”
LINK is trading at $7.40 at press time. The 19th-ranked altcoin by market cap has gained approximately 8.51% in the last 24 hours.
In addition, Van de Poppe also said that Ethereum (ETH) rival Cardano is “still in critical area that needs to be protected”. thinks. According to the analyst’s chart, the altcoin remains just above the key support area.
Van de Poppe also tracks the price action of Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. According to the crypto strategist, HBAR is one resistance away from starting a rally above 14%.
“This (altcoin) looks the same as the rest of the market. It is facing a crucial resistance which, once broken, will open the door to the next area at $0.06.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.