A widely followed crypto analyst says one blockchain oracle built on Ethereum (ETH) is poised for a bullish flip.
Trader Michaël van de Poppe tells his 618,300 Twitter followers that Chainlink (LINK) could explode from current prices nearing $7 to upwards of $10.
“Chainlink looks ready for $9.50-10.00, and there’s not much you can do about that.
Trigger if flip happens.”
Diving deeper into ETH, the crypto analyst says he would be looking for shorts on the leading smart contract platform at current prices, though he sees strength in the upcoming Merge.
“Technically speaking, would be a short entry on ETH here.
On the other hand, lots of strength with the merge coming up, so I’d rather want to short with more conviction and confirmations.
Crucial area to hold for ETH is $1,570, if that’s possible, upwards continuation.”
ETH is trading for $1,562 at time of writing.
Van de Poppe also thinks interoperability blockchain Polkadot (DOT) has major upside potential.
“Something to look at on DOT.”
DOT is trading for $7.44 at time of writing.
The trader also puts his two cents in on Bitcoin (BTC), explaining what he thinks could happen next.
“Bitcoin facing crucial resistance again.
If that breaks at $23,800, I’m assuming we’ll continue and then $28,000 is on the tables, but we also have a clear breakout above the 200-Week [moving average] confirmed.”
The crypto king is currently trading for $22,941.
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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/GrandeDuc/Dilok Klaisataporn