A widely followed crypto strategist has updated his forecasts for several altcoins. Major cryptocurrencies are on the analyst’s radar, including Pepe (PEPE), Chainlink (LINK), and Avalanche (AVAX).
Analyst Michaël van de Poppe first talks about the popular meme coin PEPE in evaluations found. According to the analyst, meme coin Pepe is still under the control of crypto bears. Van de Poppe states that the bulls must regain a significant price level for PEPE to stop the downtrend. A move above this level could create a positive sentiment in the market and contribute to the strengthening of the bulls. However, unless this happens, PEPE’s downtrend is likely to continue.
“This chart continues its downtrend, which means that as with every resistance block, the $0.0000016 area is basically a short position area.
To open a long position, I would rather see this area reclaimed. Otherwise, short $0.00000147 and $0.00000115 or even $0.00000085.”
Another altcoin on the analyst’s radar is Chainlink. Van de Poppe believes LINK is still trading sideways between $6 and $6.85. According to Van de Poppe, a break above $6.85 could cause LINK price to move higher. This breakout could mark the start of a bullish move in the market and strengthen LINK’s bullish trend.
“It doesn’t show much at this point, it should continue to break $6.85 with a slight bounce. If that happens, we could start to see a rally higher again. Until then, focus should be on $6 and $5.5 for potential support areas.”
Another altcoin that the analyst is following is the smart contract protocol Avalanche. According to Van de Poppe, AVAX is giving a bullish signal and may be preparing for a bullish breakout.
“This (altcoin) turns bullish at higher timeframe support. Nothing is clear as everything is tied to BTC, but the retracement of $14.80 will trigger a strong confirmation of the bullish divergence (positive divergence) for Avalanche.”
The last altcoin on the analyst’s radar is Verasity (VRA). Van de Poppe thinks VRA is approaching a key support level of $0.00395, which could potentially trigger a bounce for the altcoin.
Request 02 – $VRA
Marked this level months ago for a potential point of interest.
Finally, reached the area, through which longs could be played from here on $VRA. pic.twitter.com/Ehj2flHOhj
— Michaël van de Poppe (@CryptoMichNL) May 22, 2023
You can check the price movements here.