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).
Van de Poppe predicts that LINK’s immediate resistance will crumble if the altcoin witnesses another upside move.
“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.
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Generated Image: Midjourney