A popular crypto strategist is predicting rallies for Ethereum (ETH) rival Avalanche (AVAX) while keeping a close watch on one large-cap digital asset.
Michaël van de Poppe tells his 620,800 Twitter followers that AVAX looks primed for a strong rally after taking out resistance at $26.
“Avalanche looks ready for continuation here:
Attacking the highs at $26 for the third time.
Breaking that resistance activates acceleration with all previous highs (shorts getting stopped).
50-day moving average holding as support.
Targets:
$36
$42.”
At time of writing, AVAX is swapping hands for $28.14, up over 4% on the day.
The next altcoin on the trader’s list is decentralized oracle network Chainlink (LINK), which Van de Poppe says is presenting a huge opportunity for long-term bulls.
“Chainlink approaches $8.
It looks a lot like accumulation on the BTC and USD pairs, and I still believe that it’s an opportunity of a lifetime.
One of the assets to accumulate for the next bull, while it’s down 85% from the previous all-time high.”
At time of writing, LINK is trading at $8.46, an over 8% surge in the past 24 hours.
As for Bitcoin, Van de Poppe says BTC still looks bullish but warns short-term traders that pullbacks are within the realm of possibility.
“Short corrections are possible, but trend is still up. Looking quite fine on the higher timeframes for Bitcoin.”
At time of writing, BTC is valued at $23,298, an increase of 1.20% in the past day.
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The post Avalanche Rally Not Over Yet as One Large-Cap Coin Presents Massive Opportunity: Top Analyst appeared first on The Daily Hodl.