After a healthy correction, Bitcoin price started a fresh increase above $49,000. Following the flagship currency, major altcoins are also gaining pace. Shiba Inu Price is the highest gainer with more than 50% surge. While Ethereum and Cardano price is still in a consolidation phase.
The analyst says that decentralized oracle network Chainlink (LINK) is mimicking its market behavior since late last year when the coin corrected before exploding to an all-time high above $50.
He says, LINK is looking for support around the $22, $20 area, and the token is ready to go there, making a higher low, continuation, another retest, and then it will start moving forward.
According to Van de Poppe, Chainlink could reach $48, representing a potential gain of more than 77 percent over its current price of $27.
Tezos, a smart contract platform, is another coin that traders are interested in. Tezos (XTZ/BTC) appears to be bullish against Bitcoin (XTZ/BTC), and is on track to meet his target of 0.0002 BTC, or $9.57.
“XTZ might be ready for 0.0002 BTC.”
In the case of Cardano price, Poppe predicts that the Ethereum rival will make a bottom at 0.000046 BTC ($2.20) before resuming its bull trend and rebounding to its target of 0.000065 BTC ($3.11).
Poppe feels that supply chain management platform VeChain (VET) has already reached a bottom at $0.90.
“VET is most likely bottomed.”