Michael van de Poppe, a popular cryptocurrency analyst, shared bullish prospects for six altcoins in particular. Chainlink (LINK), Ethereum (ETH), Polkadot (DOT), Binance Coin (BNB), Cosmos (ATOM) and SKALE (SKL) appeared on the analyst’s sharing channels such as Youtube and Twitter. Here is what the analyst said about these coins…
Analyst LINK forecasts bullish on DOT, ATOM
Van de Poppe first started his analysis with the decentralized oracle network Chainlink (LINK). The analyst said that LINK will recover after its first drops of up to 20 percent. According to the analyst, we will probably see Chainlink bottoming out at levels like $4.5.5. Moreover, Van de Poppe believes that this will happen in the near future. Then, at some point in 2023, he predicts a rally to around $17. Currently LINK is changing hands at $5.6.
Next, the analyst says Polkadot could rise as much as 432 percent from its current $4.51 value. According to the analyst, given the fact that Polkadot will rally towards the levels in between, it is one of the altcoins to be added to the portfolio. The analyst thinks that the DOT will rise to the $16-24 range.
On the other hand, Van de Poppe says Cosmos is already recovering and will likely continue to rise. It indicates that we have performed the retesting process at the highest level in altcoin. According to the analyst, for ATOM, “we ran towards the highs and are currently in the process of consolidation.” Michael van de Poppe thinks that when the top is broken again at $25.97, we will see a relief rally just like in 2019 and 2020. After this rally, some kind of rally to $35 is expected. Currently, Cosmos is worth around $10.
$400 expectation for BNB
Later, crypto exchange Binance says that the native token has found support at the current price level. Looking at Van de Poppe’s chart, he predicts BNB will rise to $400 by June. Stating that $233 is the support level in BNB, the analyst says that if Bitcoin is not going to fall too much at this point, it will not be a bad situation to have BNB in your portfolio. Recently, however, there have been a lot of reports that Binance is/is getting into trouble with regulators. BNB has also been negatively impacted. for example cryptocoin.comAs we have also reported, another analyst, Crypto Capo, thinks that BNB may experience an 80 percent drop.
On the other hand, he says that SKALE will continue to rise if it breaks an important $0.0250 price level. If SKL starts to break $0.025, it will eliminate all those highs. It will then start to rally fairly quickly towards $0.200. “So essentially if you break it down into a small portfolio, it could do 8x to 12x this year,” the analyst said. ” says. SKALE is changing hands at $0.0211 at the time of writing.
What are his predictions for the biggest altcoin?
Finally, the analyst drew attention to Ethereum (ETH). He says that ETH may see a huge rise from the beginning of the year, and see an increase of at least 6.5 percent in months. After the $1,187 break, we have seen a big move again towards $1,249, who explained that he expects the consolidation to break. In this context, it points to the $1,263-1,280 resistance range. Van de Poppe says that Ethereum could face a major breakout if it surpasses the $1,330 price level in the coming months. At the time of writing, Ethereum is changing hands at $1,248. The analyst uses the following statements:
This is how we can define important levels. The critical block to break on the upside is $1,280, which ultimately results in a potential short range. The critical area for support is the area around $1,220, which will leave you swinging long positions to hit the high range ($1,339) or possibly this range here (around $1,550). If we reach $1,330 in the coming months and it’s likely the end of the first quarter will be huge.
He says a lower time frame analysis shows no significant movement in either direction. But if ETH starts to rise, he says, watch the volume to determine whether it will hold the higher price range. He says he is waiting for the $1,220-1,230 range to open a long position.