dailyhodl.com
A popular crypto analyst says decentralized oracle network Chainlink (LINK) and Ethereum (ETH) scaling solution Polygon (MATIC) could witness rallies this month.
Crypto strategist Michaël van de Poppe tells his 629,900 Twitter followers that he sees LINK launching an over 21% rally this month from current prices.
“I’m expecting Chainlink to continue showing strength in Q4, despite the recent sell-off due to SmartCon being finished.
That way, areas around $7 are the regions to look for longs or a reclaim at $7.65.
If that happens, $9 seems next.”
At time of writing, LINK is swapping hands for $7.43, an over 2% increase on the day.
Van de Poppe also has his eye on MATIC, which he says is showing strength after rallying above the key price area of $0.80.
“Reclaim of $0.72 activates continuation. Now, not too many entries can be generated, unless $0.72 is lost towards $0.56 or $0.80 is reclaimed.”
At time of writing, MATIC is up over 4% in the last 24 hours, trading at $0.81.
Next up is Ethereum challenger Avalanche. According to Van de Poppe, AVAX must hold support at $16.75 to have a shot at rallying toward his target of $18.
“However, if we want to look for entries, a dip into support at $16.75 is what I’d be looking for.
If that holds, $18 seems to be next, and then re-evaluation happens.”
At time of writing, AVAX is valued at $17.14, up over 4% in the past day.
Another altcoin on the analyst’s radar is Cosmos (ATOM), which Van de Poppe says is in the midst of a heavy correction. In the short term, the crypto analyst expects the altcoin to rally to $14 before turning resistance at $13.35 into support for possible bullish continuation.
“Most preferred long entry is the zone around $11.50-12.00 or when it flips $13.35 for support.”
At time of writing, ATOM is trading at $12.88, up over 7% in the last 24 hours.
The last altcoin on the trader’s list is Terra Luna Classic (LUNC). Van de Poppe says LUNC must hold its immediate support to sustain its bullish momentum.
“This one shows strength, as another breakout has happened…
I’d be looking at long around $0.0003 for a potential play. If $0.00036 breaks, then I assume we’ll see $0.00045.”
LUNC is currently hovering at 0.0003, at Van de Poppe’s crucial support level.