Popular analyst Micheal van de Poppe, CEO and founder of Eight Global, announced the altcoin basket. In addition, the analyst shared his predictions for some projects.
Altcoin projects in the analyst’s basket
Crypto analyst and trader Micheal van de Poppe shared his savings on altcoin projects on his Twitter account. The analyst’s basket includes LINK, SKL, CCD, NEAR, ATOM, DOT, EGLD, AVAX, XCAD, MATIC, BNB, BTC and ETH. The analyst also asked his followers which projects they have accumulated.
Van de Poppe’s LINK targets: $8.5 and $9.25
Micheal van de Poppe said that if LINK continues the bullish trend it achieved in the previous week, it will target the next resistance levels at $8.5 and $9.25.
Specifically, the analyst made this statement while the bulls were dominating LINK. Last week, LINK was in an uptrend and rose from $5.97 to $7.2 in four days. But yesterday LINK deviated from the uptrend. Accordingly, the altcoin fell from $ 7.1 to $ 6.5 in about three hours. At the time of writing, Chainlink is trading at $7.06, down 0.2% in the last 24 hours, according to CoinMarketCap.
Additionally, crypto analyst Chryzano Ariston provides the following analysis. Narrowed Bollinger bands are now wider. This indicates more price volatility. LINK touched the lower band. Also, the market seems to have corrected the oversold price of LINK. However, it is still very close to the lower band.
The 200-day MA (yellow line) is heading towards the bottom, which indicates that prices may decline in the future. Meanwhile, the 50-day MA (red line) seems to have lost some momentum as it aligns parallel to the horizontal axis. Interestingly, the 200-day MA seems to be acting as the immediate support level. So it is possible for LINK to continue bouncing at the 200-day MA. However, if it breaks the 200-day MA support, it risks falling to the $6.00-6.2 support level.
If the bulls dominate the market, it is possible for LINK to target Van de Poppe’s resistance level 1 ($8.5), which is currently a suffocating target. And even more suffocating would be the analyst’s 2nd resistance level ($9.25).
Other altcoin projects the analyst is looking at
Michael van de Poppe then looks at Hedera (HBAR). The analyst says HBAR looks the same as the rest of the market. According to the analyst, it is facing a crucial resistance which, when broken, opens the door to the next area at $0.06.
Van de Poppe doesn’t see much to say for Cardano (ADA). According to the analyst, ADA is still in the critical area.
Your analyst then moves to Algorand (ALGO). She says that ALGO won’t do much about it unless she can recover the level at $0.28.
Micheal van de Poppe also looks at DigiByite (DGB). He notes that the same is true for DGB. According to the analyst, most of the altcoins need to regain critical support levels first. If they do, then it’s possible for a nice run to begin, he notes. He also considers it possible for shorts to even overdo it as they are triggered.
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