Closely-followed crypto analyst Michaël van de Poppe says Chainlink (LINK), Aave and three more altcoins are waking up after the big sell-off event in May.
The analyst tells his 350,000 Twitter followers that Chainlink looks ripe for a 25% rally against Bitcoin (LINK/BTC) from its current value of 0.0006.
[adinserter block="1"]“Chainlink looking ready for continuation here.
75,000 satoshis (0.00075) is on the horizon.
Still a massive buy.”
Van de Poppe also notes that the entire decentralized finance (DeFi) sector looks strong as he highlights three protocols that he believes are starting to make moves.
“DeFi going great, as AAVE, SNX, COMP are waking up heavily. It’s just a start, but the market starts to look good. I’m expecting more to follow suit with those.”
The analyst also has one other under-the-radar altcoin on his watchlist that he says could be in for some giant rallies soon. According to Van de Poppe, multi-purpose blockchain protocol Icon (ICX) could be finished finding its bottom and might be primed to erupt in its Bitcoin pair (ICX/BTC) in the coming months.
“Is Icon bottomed out? Might be. Heavy support bounce, after which it’s looking like it wants to test the resistances. Flipping those are entry triggers. Potential continuation of 75% possible.”
As for the crypto markets at large, the analyst expects both Bitcoin and the rest of the digital asset space to creep higher, with altcoins likely to outperform BTC in the midterm.
“Most likely expectation is that altcoins will be grinding up way heavier than Bitcoin in the coming period.
They looked great and got destroyed through that final drop of Bitcoin to $30,000.
Therefore, I’m expecting them to continue outperforming Bitcoin in the coming months.”
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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.
