With more than 500,000 followers on Twitter cryptocurrency Analyst and trader Michaël van de Poppe recently shared his technical analysis of four altcoins: Chainlink (LINK), Pepe (PEPE) And Avalanche (AVAX).
LINK
For LINK, the analyst said the coin must rise above $6.85 to start a rally to higher highs. Otherwise, it considers $6 and $5.50 as potential support areas. LINK price is trading at $ 6.52 at the time of this writing.
PEPE
For PEPE, the analyst claimed that the coin is in a downtrend and every resistance block is an opportunity to short. He said that he will only consider long positions if the coin reclaims the 160000 region. It also gave some targets for the drop, such as 0.00000147, 0.00000115 and 0.00000085000. PEPE altcoin price is trading at $0.000001534 at the time of this writing.
AVAX
On AVAX, the analyst said that the coin is showing bullish divergence at higher timeframe support, but needs to retrace $14.80 to confirm this. He added that everything depends on Bitcoin’s price action. AVAX is trading at $14.71 at the time of this writing.
Request 04 – $AVAX
This one is turning into a bullish divergence on higher timeframe support.
Nothing confirmed as everything is tied to $BTCbut reclaiming $14.80 would trigger strong confirmation on the bullish divergence for #avalanche. pic.twitter.com/SVWFOepDWU
— Michaël van de Poppe (@CryptoMichNL) May 22, 2023
*Not investment advice.
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