This is When Major Altcoins Can see Double Digit Rally !

Cryptocurrency markets have slipped down over the last 24 hours. The global market cap is down is at $1.23 trillion with Bitcoin price trading at $29,992. Similarly, most major altcoins are struggling to clear key hurdles.

Michael van de Poppe is a popular crypto strategist eying possible price increases for trio crypto assets. Poppe to his Twitter followers told that the BTC Bounce back from a price drop could mean that BTC and altcoins are primed to go on a run this month.

Easy, the odds for a relief rally this month are increasing as #Bitcoin recovered this entire move. #Altcoins on the daily timeframe is also starting to look better.
This could be a relief rally of 50-100% on them.
Be ready.
— Michaël van de Poppe (@CryptoMichNL) June 7, 2022

Bitcoin (BTC)

Van de Poppe further points to the ideal support level of Bitcoin at $30,400 and says BTC further soaring to the high at $35,000 could prove a successful defense line of BTC.

When it comes down to #Bitcoin, it’s back in resistance and chopping around like crazy.
I’d like to see $30.4Kish hold as support.
If that holds, finally, then I’m assuming we’ll see $32.8K and potentially $35K. pic.twitter.com/hT7fGXlmEP
— Michaël van de Poppe (@CryptoMichNL) June 7, 2022

Chainlink (LINK )

The Next altcoin on traders’ radar is a decentralized oracle network Chainlink (LINK) Which is trading at $8.83, up by 1.59% in just the last 24 hours. Poppe opinionated on LINK’s strength saying that the altcoin’s resistance (R) level of $7.25 may now flip as its level of support (S).

Noting this he told: “Well, $7.25 was indeed holding up for LINK and now it’s continuing the momentum towards $9 and hit that level. Good S/R flip play.”

XCAD

XCAD is the last native utility on analysts’ radar. XCAD project has participated in the upcoming live stream planned on June 16th, which seems to be standing strong in the market, says Van de Poppe.

“XCAD is showing strength, as it is moving towards $5 and a crucial breaker. If we do break $4.80-5.00, then $6 and $8 are on the horizon+a big event on the 16th coming up for XCAD.”

Source: https://coinpedia.org/altcoin/this-is-when-major-altcoins-can-see-double-digit-rally/