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.”

Source: Van de Poppe/Twitter

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.”

Source: Van de Poppe/Twitter

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.”

Source: Van de Poppe/Twitter

HBAR is switching hands for $0.048 at time of writing.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Terablete

Source link


Please enter your comment!
Please enter your name here