A widely followed analyst is predicting bursts to the upside for Ethereum (ETH) and Chainlink (LINK) while having his radar locked on Polygon (MATIC) and Optimism (OP).
Crypto strategist Michaël van de Poppe tells his 649,700 Twitter followers that Ethereum is starting to show signs of strength after managing to stay above support of $1,600.
“Ethereum showed that the $1,600 level was strong enough for a bounce, but first level immediately rejects.
I think that we’ll be continuing to trend higher, but the ultimate question is whether we’ll get another entry for this long trade.”
At time of writing, ETH is worth $1,602.
Looking at decentralized oracle network Chainlink, Van de Poppe thinks that LINK could witness extended rallies.
“Chainlink looks decent for continuation towards $10.”
At time of writing, LINK is trading for $7.40, suggesting an upside potential of over 35% should it hit the trader’s target.
Next up is blockchain scaling solution Polygon, which Van de Poppe plans to accumulate at around $1.25.
“Still, patiently, waiting for a long on MATIC on lower boundaries of the markets.”
At time of writing, MATIC is trading for $1.27.
The last coin on the trader’s list is Ethereum layer-2 scaling solution Optimism. According to Van de Poppe, OP looks poised to print a new all-time high (ATH).
“This one is eager for a breakout above the ATH.
I would like to see this area around $2.80 hold for support, not lower than $2.65.
If that’s the case, markets are done correcting and we’ll run towards $3.50+ for OP.”
At time of writing, OP is worth $2.88.
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Source: https://dailyhodl.com/2023/02/26/crypto-strategist-forecasts-rallies-for-ethereum-and-chainlink-updates-outlook-on-polygon-and-optimism/