Popular crypto strategist Michaël van de Poppe is mapping out what’s ahead for a half dozen of altcoins including Binance Coin (BNB) and Chainlink (LINK).
Van de Poppe tells his 622,300 Twitter followers that BNB, the utility token of crypto exchange Binance, remains in a strong uptrend, but he’s expecting a slight pullback in the near term.
“Looking to see whether $295 sustains support. If that’s the case (and I doubt we’ll retest it), I’m assuming $375 is next.”
At time of writing, BNB is changing hands for $316, flat on the day.
Next up decentralized oracle network Chainlink. According to the crypto strategist, he’s also expecting a shallow pullback for LINK before rallying to his upside target of $12.
“Expecting to see $8 hold as support and then $12 is on the board for the potential target.”
At time of writing, LINK is swapping hands for $8.51, down 2.29% on the day.
Another altcoin on Van de Poppe’s radar is peer-to-peer payments network Litecoin (LTC). The analyst says LTC must keep its immediate support intact to sustain its uptrend.
“The trend is still upwards, but facing a crucial resistance at $65. I’d like to see it sustain above $58 and would be seeking for longs around $60. If those hold, no doubt we’ll be seeing continuation to $75 and possibly $95.”
At time of writing, LTC is trading at $61.75, up 1% in the past 24 hours.
Smart contract platform Harmony (ONE) is also on Van de Poppe’s list. According to the trader, Harmony is flashing strength in its Bitcoin pair (ONE/BTC).
“A clear order block of support should hold around 0.00000115 BTC ($0.027). If that’s the case, then I’m assuming another push happens towards 0.00000165 BTC ($0.039). Entries are also in the 0.00000114-0.00000125 BTC ($0.027-$0.030) region.”
At time of writing, the ONE/BTC is valued at 0.00000124 BTC ($0.03).
The fifth altcoin is Celer Network (CELR), a scaling platform designed to enable off-chain transactions in a secure manner. Van de Poppe is predicting a 40% rally for CELR as long as bulls hold the coin’s nearest support.
“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 up over 3% on the day at $0.025.
Van de Poppe is also watching the price action of Reserve Rights (RSR) token, a cryptocurrency that aims to facilitate the stability of the asset-backed stablecoin known as the Reserve Token (RSV). According to the crypto strategist, RSR is a bit tricky to trade because losing support at $0.007 could trigger a decline of over 17%.
“Currently on support, but if that one is lost, I don’t know if I want to play $0.0065 or whether I want to play $0.00575. Targets are clear, most likely $0.01 is doable if support holds.”
RSR is flat on the day, trading at $0.0074.
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Featured Image: Shutterstock/Roman Amanov