A popular crypto trader and top strategist says that one altcoin is primed for a breakout.
Analyst Michaël van de Poppe tells his 126,000 YouTube subscribers that the Ethereum-based blockchain network Chainlink (LINK) appears primed for a breakout.
Van de Poppe notes how that the pattern in LINK’s chart signals an upward surge.
“It’s very likely that we’re going to have a breakout happening here. You see this construction quite often, in which… we are making some sort of rounded bottom.
A rounded bottom implies we’re going to have higher lows [and] higher highs quite swiftly.”
Van de Poppe says that if LINK can sustain a specific key level, it will continue to climb.
“At this stage, if Chainlink is going to sustain above this level here, which is around 60,000 (.0006 BTC) satoshis ($28.87), I think we are eager for a breakout to the upwards momentum.
The next run of Chainlink will be happening toward around 80,000 satoshis (.0008 BTC) ($38.50), implying a run of 30%. But then we are most likely going to get a new cycle for Chainlink as well, implying we’re going to have some serious continuation on the markets.”
Chainlink is currently trading at $30.76, a 26% increase from its 30-day low of $24.38 and a 17% decrease from its 10-day high of $36.00, according to CoinGecko.
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/IM_VISUALS
The post This Large-Cap Altcoin Is Primed for a Breakout, Says Crypto Trader Michaël van de Poppe appeared first on The Daily Hodl.