Analyst Predicts Over 100% Rally for ETH-Based Altcoin, Updates Forecast on Sui, Arbitrum and One Other Crypto

A widely followed crypto analyst thinks that an altcoin running on the Ethereum (ETH) network is gearing up for a big surge in price.

Trader Michaël van de Poppe tells his 685,500 followers on the social media platform X that the decentralized oracle network Chainlink (LINK) looks poised for a 2x rally.

According to Van de Poppe, LINK looks bullish against both Bitcoin (LINK/BTC) and the US dollar.

“This one looks primed for continuation.

The BTC pair is making higher highs, higher lows and held a higher timeframe support level.

Expecting a breakout to $25-$30 in the coming months to occur.” 

Image
Source: Michaël van de Poppe/X

At time of writing, LINK is trading for $14.72, suggesting an over 100% upside potential if the ETH-based altcoin hits the analyst’s target.

Looking at layer-1 blockchain Sui (SUI), Van de Poppe believes that the altcoin is likely headed to its next support area at around $0.90 before the next leg up.

“This one is also having a general correction, which is fine. The optimal zone for entries is coming up, before the upwards trend is continuing.

Buy the dips.”

Image
Source: Michaël van de Poppe/X

At time of writing, SUI is worth $1.04.

Next up is the Ethereum scaling solution Arbitrum (ARB). Just like SUI, Van de Poppe thinks that ARB will see lower levels before regaining bullish momentum.

“This region between $1.40-1.85 is an area I’d be looking to get myself positioned before a potential run to $3.” 

Image
Source: Michaël van de Poppe/X

At time of writing, ARB is trading for $1.71.

The last coin on the trader’s radar is the interoperable blockchain Cosmos (ATOM). Van de Poppe believes that ATOM must stay above its immediate support level to have a shot at igniting a strong breakout rally.

“Crucial area to hold, if this area between $7.50-9.00 is going to hold, likely a breakout to $22-$26 seems next.” 

Image
Source: Michaël van de Poppe/X

At time of writing, ATOM is worth $9.20.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Source: https://dailyhodl.com/2024/01/23/analyst-predicts-over-100-rally-for-eth-based-altcoin-updates-forecast-on-sui-arbitrum-and-one-other-crypto/