Michael van de Poppe, a well-known crypto analyst, is forecasting a rally in Ethereum (ETH) to $20,000, as well as rallies in Chainlink (LINK) and four other altcoins.
Ethereum, according to the crypto strategist’s 424,200 Twitter followers, will continue on its 2017 bull market trajectory.
He described the comparison between ETH 2017 and ETH 2021 as “wonderful.” In 2017, it had a similar pattern, breaking south with a 50% correction. The same price behavior is occurring now, with a 35 percent decline. It’s still possible to get to $15,000-20,000 per ETH.
At the time of writing ETH is $2957. The support levels are at $2755, $2690 and the resistance levels are at $3013 and $3077.
Against Bitcoin (LINK/BTC), the crypto expert is also positive on Chainlink, a decentralized oracle network. LINK, according to Van de Poppe, is climbing to resistance at 0.0007 BTC ($29.42), a 27 percent increase from its current value of 0.00055 BTC ($23.11).
“Chainlink: the most undervalued coin in the top 20. I’m still bullish on this one and oracles.”
At the time of writing LINK is trading at $23.16 and the first major resistance level is $24.5 followed by $25.28.
The support levels are at $21 and $20.99.
Elrond (EGLD), a blockchain platform built to power distributed apps, enterprise use cases, and crypto transactions, is the next coin on the trader’s radar. Elrond is primed for a big rally against Bitcoin (EGLD/BTC) to his aim of 0.008 BTC, worth $336.25, according to Van de Poppe.
He claims that this is always one of the first to run. It also aired as one of the initial coins earlier this year, in February. Stunning [support/resistance] reversal. He believes we will maintain that level and make another push to [0.008 BTC].
Next up is COTI (COTI), a payments infrastructure platform, which Van de Poppe believes must maintain above support at $0.48 or $0.41 to have a chance of triggering a spike of more than 100%.
“Flip of either of those two levels and continuation towards $1 is likely.”
Harmony (ONE), a blockchain-focused on supporting a decentralized economy, is another coin on traders’ radar. Harmony is preparing for a 90 percent increase in its Bitcoin pair (ONE/BTC) from its present value of 0.00000368 BTC ($0.15), according to Van de Poppe.
He expects the trend to continue, with a possible reversal before the next target of 0.000007 BTC ($0.29).
Fetch.ai, a decentralized machine-learning network, is the last coin on Van de Poppe’s list (FET). Fetch.ai appears positive versus Bitcoin (FET/BTC) after converting previous resistance at 0.000014 BTC ($0.59) into support, according to the crypto strategist.