dailyhodl.com
A widely followed crypto strategist believes that a decentralized oracle running on Ethereum (ETH) is gearing up for a big market reversal.
Analyst Michaël van de Poppe tells his 733,600 followers on the social media platform X that he’s bullish on Chainlink (LINK).
“I believe that LINK will be breaking out in the next one to two weeks.
Another test of $13 is going to be the trigger –> $18 next.”
At time of writing, LINK is trading for $10.96.
Looking at Ethereum itself, Van de Poppe shares a chart suggesting that ETH will rally above $3,300 if it manages to breach a key resistance level.
“ETH bounced upwards, and now the macroeconomic weeks are kicking in.
The question is: are we going to see some upward momentum or will it retest $2,000?
Testing $2,750 again = breakout.”
At time of writing, Ethereum is worth $2,479.
The last altcoin on the trader’s radar is the native asset of the layer-2 solution Optimism (OP). According to Van de Poppe, OP is one resistance level away from witnessing a big burst to the upside.
“I think next week will be the week that the ETH ecosystem wakes up.
OP is doing great, just consolidating.
Above $1.75 = party time.”
At time of writing, OP is trading for $1.56.
Generated Image: Midjourney