One of the closely followed analysts of the crypto world, Michael van de Poppe; Algorand (ALGO), The Sandbox (SAND), Chainlink (LINK), Curve DAO Token (CRV) and Swipe (SXP) shared their forecasts for the price direction of altcoins.
In a new video he posted on his YouTube channel, Algoran said that investors are entering a period where they must ideally place their money at the lowest price levels to make the most of the “swing” trading opportunities.
“What level do I want to see Algorand break through? The entire block we have here at $1.75 has it. If this level is broken we can clearly see it continuing in the markets as we are currently facing some resistance.
After a nice bounce, you can already see an increase of about 30% to 35%, and if we break this level, the next resistance we can really attack will be the area around $2.10 to $2.25.”
Van de Poppe says SAND offers a great day trading opportunity at the retest level of around $5.25.
“If the area of around $5.10 is lost, a retest will most likely take place at $3.95 or maybe $3.”
The analyst is also currently facing resistance at around $6. Curve DAO Token (CRV) It also identifies potential entry points for
“I would definitely look at entry points around $4.50 as an initial entry level, and if a break above $6.10 occurs I think you might want to buy this flip targeting $8 or potentially around $10.”
As for Chainlink, he noted that traders can start building their positions between $13.86 and $16.71.
“A crucial breakout for this is a break above $23.50. If this level is broken, the next test will be $35 and we will most likely put ourselves in a new uptrend.”
As for the swipe, van de Poppe thinks the coin needs to surpass the critical resistance level around $2.20.
“You know that if that breaks, you may be looking at a potential level where you can start building your positions, but when you look at the structure in this case, it’s obviously more normal to want to wait until we get it. A retest is needed around $1.70.”
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.