Analyst Predicts Breakout for Chainlink, Updates Outlook on Cardano and One Additional Altcoin
A popular crypto analyst is updating his forecast on a handful of altcoins including Chainlink (LINK) and Cardano (ADA) amid the current bear market.
Michaël van de Poppe tells his 642,900 Twitter followers that the decentralized oracle network Chainlink is “showing strength” in the midst of breaking resistance.
“I’d prefer to see it hold above $7 for continuation and then I’d be targeting $8.50 and/or $9.25.”
LINK is trading at $7.33 at time of writing. The 22nd-ranked crypto asset by market cap is up nearly 10% in the past 24 hours and nearly 25% in the past seven days.
Van de Poppe also thinks Ethereum (ETH) rival Cardano is “still in the crucial area to hold.”
ADA is changing hands at $0.307 at time of writing, still respecting Van de Poppe’s key support area based on the analyst’s chart.
Van de Poppe is also watching the price action of Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. According to the crypto strategist, HBAR is one resistance away from triggering an over 14% rally.
“This one looks identical to the rest of the market. Facing crucial resistance, which, once it breaks, opens the gate towards the next area at $0.06.”
HBAR is switching hands for $0.048 at time of writing.
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