Crypto trader and analyst Michaël van de Poppe says one Ethereum (ETH)-based altcoin is gearing up to ignite a huge burst to the upside.
Van de Poppe tells his 807,700 followers on X that he is bullish on the decentralized oracle Chainlink (LINK) in its Bitcoin pair (LINK/BTC).
[adinserter block="1"]According to the trader, LINK/BTC appears to have bottomed out and is poised to rally to 0.0004389 BTC, printing gains of over 160%.
“LINK has one of the best setups in the space, right now.”
A bullish LINK/BTC pair indicates that Chainlink is rising in value faster than Bitcoin. At time of writing, LINK/BTC is worth 0.0002 BTC ($23.17).
The trader is also keeping a close watch on the supply chain-focused altcoin VeChain (VET). Van de Poppe believes that VET is trading close to a crucial accumulation zone following the release of a fundamental update.
“VeChain is about to break out upwards, based on TA (technical analysis). However, they’ve just released a new version of the Whitepaper for VeBetter where AI is being integrated within the ecosystem. They keep on evolving…
When we’re talking about the case of a breakout, historically we’ve seen breakouts of more than 200% from this build-up. I’m sure it will be the same once the Weekly MA (moving average) is cracked.”
Van de Poppe says he is targeting $0.12 for VET. At time of writing, VET is trading at $0.024
Another coin on the trader’s radar is the governance and utility token of Wormhole (W), a decentralized interoperability protocol. According to the analyst, W appears to be in the midst of a bullish breakout with a target at $0.17.
“This is a case that I’d be interested to be buying the dip on W if I had the opportunity. Clear break above the weekly MA indicating that we’ll see a lot of upwards momentum.”
At time of writing, W is worth $0.12.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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 losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
