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Michael van de Poppe, the renowned cryptocurrency trader and analyst, revealed in his latest technical analysis that he will be watching Injective (INJ), Chainlink (LINK), and Dogecoin (DOGE) for trade opportunities this month. According to the analyst, these three altcoins have the potential to generate substantial gains for investors and traders this August.
The first cryptocurrency named in his analysis, INJ, has been a strong mover in the market over the past 6 months, according to van de Poppe. Subsequently, he remains bullish on the altcoin and predicts that there may be a continuation in INJ’s positive trend. He also shared that there is good momentum present on its charts.
In terms of trade entries, van de Poppe revealed that he will look to enter into a long entry position for INJ if its price drops below $5.40. In addition, he noted that a drop below $7 can be taken as another long entry. At press time, CoinMarketCap indicated that INJ was trading at $8.17 after its bullish momentum continued over the past 24 hours – printing a gain of 3.02%.
Next on the analyst’s radar is LINK, which van de Poppe mentioned has been in an accumulation phase for a long time. Nevertheless, he revealed that technical indicators suggested that the altcoin was in a negative trend. This led van de Poppe to believe that LINK’s price may set a higher low in the next few days if its current correction continues.
LINK was changing hands at $7.14 after it suffered a 24-hour loss of 2.12%. The cryptocurrency also saw a 22.63% decrease in its total daily trading volume. As a result, the 24-hour trading volume for the altcoin stood at $195,785,044 at press time.
Last but not least, van de Poppe shared that he is waiting for DOGE’s price to print a higher low. If this happens, the analyst predicted that the meme coin’s price will enter into a rally. From an entry point perspective, van de Poppe revealed that $0.07 is his long entry for DOGE, with the upside target set at around $0.10.
Similar to INJ, DOGE was able to achieve a 24-hour gain, and rose 0.74% during this period. As a result, the leading meme coin was changing hands at $0.07452 at press time.
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