While the cryptocurrency market opens the week in red, the leading crypto Bitcoin is struggling for 40 thousand dollars. Most altcoins are trying to maintain critical supports against sharp sell-offs. Popular cryptocurrency crypto analyst Michaël van de Poppe shared his latest predictions. Analyst Chainlink (LINK Coin), Sui Network (SUI), Arbitrum (ARB) and Cosmos (ATOM) announced their predictions. Crypto analyst Victor Olanrewaju looks at the technical picture of these altcoins.
Analyst expects strong rise for LINK Coin!
cryptokoin.comAs you follow from , the market has started another difficult week. However, analysts are hopeful for some tokens. Michaël van de Poppe predicts that the LINK Coin price will continue its upward trend in the coming months. The analyst also predicts that the token price will likely rise up to $25 to $30.
LINK Coin was trading at $15.20 at the time of writing. So, if it reaches $30, this means the price of the cryptocurrency will double in a few months. On its 4-hour chart, LINK Coin price volatility appears to have increased over the past few days. However, indicators from Bollinger Bands (BB) showed that volatility was decreasing. In a strong bull case, LINK Coin has the potential to reach $16.50 in the short term. However, if the selling pressure increases, it is possible for the price to drop to $14.45. Meanwhile, the Accumulation/Distribution (A/D) indicator stood at 114.62 million.
An evaluation by A/D showed that more than 2 million LINK Coins have been accumulated since January 1. If accumulation continues to outpace distribution, LINK could break and move towards $25.
There is 1 dollar of gold on the cards for SUI!
The analyst then looks at SUI. Michaël van de Poppe predicts that a correction for the token will push it below $1. However, he predicts that the price will move upwards much later. Therefore, according to the analyst, market participants should look to buy the dip.
SUI experienced a correction of 8.24% in the last 24 hours. Thus, the token price dropped to $1.02. On January 15, SUI reached a new high of $1.43. However, this increase led to token holders taking some profits, pushing the RSI to 33.40. A high RSI value indicates bearish momentum. However, if the data falls below 30.00, SUI will be overbought. In this case, the price may reverse upwards. Additionally, if there is an increase in bid offers, the 1.618 Fibonacci level suggests that SUI could reach $1.69.
ARB will undergo a deeper correction!
While talking about Arbitrum (ARB), Michaël Van de Poppe states that the token has undergone a necessary correction. But on a positive note, he adds that a run towards $3 may be inevitable. Therefore, he recommends that traders look forward to making entries around $1.40 to $1.85.
On the 4-hour chart, the 9-day EMA (blue) was at $1.80. On the other hand, the 20-day EMA (yellow) is at $1.83. Since the ARB has broken below both EMAs, it means the price may continue to decline. As Van de Poppe noted, it is possible for the ARB price to drop as low as $1.40. Meanwhile, market players need to pay attention to the $1.65 region.
Like LINK Coin, ATOM may also rise: These levels are on target
According to Michaël Van de Poppe, Cosmos (ATOM) is falling behind. However, the analyst says that $22 to $26 is on the cards if the price continues to hold the $7.50 and $9.00 levels.
ATOM’s 4-hour chart shows attempts to rise to $10. However, resistance at $9.95 led to rejection of the efforts. ATOM also declined below the $9.55 support, confirming that the price action was weak. Moreover, signals from the Aroon indicator showed that the price would still fall. Because Aroon Down (blue) was 100% while Aroon Up (orange) was 50%. Such a situation indicates that sellers are aggressive compared to buyers. However, there is a possibility that sellers may run out. Once this happens, the bulls can take advantage of the opportunity and possibly send ATOM towards $22.
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