Popular strategist Michaël van de Poppe is analyzing four leading altcoins as the crypto market continues to range.
Starting with the native token of decentralized applications blockchain Avalanche (AVAX), Van de Poppe tells his 606,600 Twitter followers that AVAX is exhibiting signs of bullish divergence on the daily chart.
The crypto strategist says AVAX could surge by over 60% from current levels.
“AVAX
Potential bullish divergence here on the daily, through which continuation towards $40 area is possible with the current market.
However, overall assuming we’ll go into an accumulation phase with multiple support zones beneath us.”
Avalanche is trading for $23.76 at time of writing.
Next up is Chainlink (LINK), a decentralized oracle network allowing smart contracts to access off-chain data.
Van de Poppe says Chainlink is likely to continue the upward trend but investors will get a once-in-a-lifetime opportunity if the price goes lower.
“LINK
So far, so good.
Looks to me that we’re getting continuation towards $9 or $10 here.
And yes, $6 is still [a once]-in-a-lifetime opportunity to buy LINK.”
Chainlink is trading for $7.06 at time of writing.
The crypto strategist also examines two other altcoins – Cardano (ADA) and decentralized finance platform Curve DAO (CRV).
Van de Poppe says that CRV could fall by over 10% from current levels and hit a price of $1.09 after having failed to break above a key resistance level.
“CRV
Searching for a retest here after rejecting at $1.45.”
Curve is trading for $1.25 at time of writing.
The crypto analyst and trader says potential entry opportunities for Cardano lie between $0.51 and $0.55.
“ADA
Looking at levels here around $0.51-0.55 for a bounce play as it rejected heavily on the resistance at $0.67.”
Cardano is trading for $0.58 at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Liu zishan/Natalia Siiatovskaia