Altcoins Including $SOL, AVAX, and $LINK Could Rise Up to 200%, Says Top Crypto Trader
Categories: Crypto News US
AltcoinsIncluding $SOL, AVAX, and $LINK Could Rise Up to 200%, Says Top Crypto Trader
Michael van de Pope, a top cryptocurrency trader anda well-known analyst on social media, has revealed that he believes that many altcoinscould soon rise to 200% as bullish signals point to further price action.
In a series of tweets shared with van de Pops, who has over619,000 followers on the microblogging platform, the analystsaid that various altcoins and the major cryptocurrency bitcoin ($BTC) arebreaking above their 50-day moving average, BTC Also its breaking above 200.-Week moving average. Looking at specific cryptocurrencies, van de Poppe choseAvalanche ($AVAX), Solana ($SOL), and Chainlink ($LINK) among others,believing that the move could soon rise to 200%.
Addressing AVAX, the analyst said that it broke above the50-day moving average, “accelerating above $26 with all previoushighs.” The cryptocurrency, he said, also signals bullish divergence,which occurs when prices drop to a new low while an oscillator does not reachthe same low. Oscillators are indicators that fluctuate around a concentricline, such as the moving average convergence divergence (MACD).
The analyst also noted that Chainlink is “ready for a good breakout”,with both its pairs USD and BTC taking “months of sideways action due toaccumulation.” According to his words, the accumulation phase is aninvestment time, and he still sees LINK as a “lifetime opportunity”from $6 to $8.
At the time of writing, the cryptocurrency is at $7.9. Asrecently reported, Bloomberg Intelligence analyst Mike McGlone suggested thatthe flagship cryptocurrency bitcoin could "outperform" other assetsin the second half of the year as it would provide a "global collateral"with performance aligning with Treasury bonds or gold. side" grows.