Michael Van De Poppe is the most widely followed crypto analyst and trader on Twitter.
The crypto analyst regularly posts ideas he has about certain cryptocurrencies, why he thinks they might go up or down, and how much they might move.
Lately, Van De Poppe published another idea through his Twitter handle to all 630 thousand of his followers.
In this idea, Van De Poppe details why he thinks one of Ethereum’s biggest competitors could rally as much as 14% to the upside over the next few weeks. He also mentions that two other altcoins may also be in for some massive double-digit gains.
Van De Poppe’s Predictions
The Ethereum competitor in Van De Poppe’s idea is the smart-contract-enabled BNB chain.
According to the analyst, the price of BNB appears to be “showing strength” and has held its ground around the $265 support.
He adds that when bitcoin goes beyond the $285 level and retests it for support, we’ll be “good to go.” Beyond that point will be a BNB rally to the $325 level.
At the time of writing, the price of BNB is $281, meaning that Van De Poppe’s idea may very well be in play as we speak.
Furthermore, judging by the charts, the analyst appears to be on to something. BNB is currently testing support on the lower trendline of the ascending channel it is in and may see a bounce to the upside after leaving the $285 line.
In addition, the RSI on the chart also shows oversold conditions, making it likely that the price action of BNB will indeed witness a bounce to the upside soon.
Van De Poppe’s Two Other Altcoins
The two other altcoins Van De Poppe mentions are Chainlink (LINK) and Polygon (MATIC).
Polygon Price Analysis
For polygon, the analyst mentions that he expects a continuation to $1, moving to the upside of about 18%.
As with BNB in the charts, Van De Poppe appears to be right about Polygon.
From a wider perspective, Polygon appears to be testing the major support around $0.72 (blue line), with the $0.8110 level (red line) as minor support.
After retesting both levels several times, the polygon bounced off its major support (blue line) last week, broke through the next resistance (red line) yesterday, and appears to be trying to restest the $0.8110 level before another move to the upside as Van De Poppe suggests.
MATIC is $0.8222 at the time of writing.
Chainlink Price Analysis
After Van De Poppe’s idea about Polygon is the one about the decentralized blockchain oracle network, chainlink. Van De Poppe predicts that Chainlink might continue its path toward $9.
He also predicts that LINK may be on the verge of resuming an upward trend that may bring an upward rise of about 18% from where it currently sits. The price action of LINK seems similar to that of BNB.
Like BNB, LINK seems to be in an ascending price channel. However, unlike BNB, LINK still seems likely to test the lower support of its ascending channel before trending further upwards.
This point is essential for anyone who plans to jump into a trade blindly.
The RSI on LINK also supports this because it is yet to show clear signs that a buy trade may be the best line of action. LINK is currently worth about $7.538 at the time of writing.
Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)
