Analyst Says Chainlink (LINK) and Low-Cap Ethereum Altcoin Set for Rallies – Here’s His Price Target
A closely followed crypto analyst says that decentralized oracle network Chainlink (LINK) and one other under-the-radar Ethereum-based altcoin are set for rallies.
Michaël van de Poppe tells his 622,000 Twitter followers that LINK’s recent 35% run has more gas in the tank, and is on track for a potential price target of $12, which is a 37% gain from current prices.
“This is going according to plan.
Made a 35% run from $7 to $9.50 and needs to consolidate as we speak.
Expecting to see $8 hold as support and then $12 is on the board for the potential target.”
At time of writing, LINK is changing hands for $8.74.
Also on the analyst’s radar is layer 2 scaling solution Celer Network (CELR). According to Van De Poppe, CELR is in a clear upward trend, with a further 30% rally left in it.
“The trend is upwards, as continuously higher lows are created.
I’d like to see $0.0235-0.024 hold as support and then $0.034 is possible.”
At time of writing, CELR is trading for $0.0026, up 20% in the last seven days.
Looking at Bitcoin (BTC), the analyst says that BTC is in a consolidation pattern, and will present opportunities for bulls near the $23,000 area.
“Bitcoin consolidating a little, as we’ve had a pretty decent run upwards in the past week.
- Very normal; nothing goes up in a straight line.
- Profit taking, as bear mindset is still key.
- Giving people on HL’s opportunities to jump in.
Watching $23.8K and $23K for longs”
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