Popular crypto strategist Michaël van de Poppe maps out what lies ahead for half a dozen 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 expects a slight pullback in the near term.
“I’m looking to see if $295 holds support. If so (and I doubt we’ll retest it), I guess $375 is next.
At the time of writing, BNB is changing hands for $316, fixed on the day.
Next, the Chainlink decentralized oracle network. According to the crypto strategist, he also expects a slight pullback for LINK before rallying to his upside target of $12.
“Expecting to see $8 as support and then $12 on the chart for the potential target.”
At the time of writing, LINK is changing hands for $8.51, down 2.29% on the day.
Another altcoin on Van de Poppe’s radar is the peer-to-peer payment network Litecoin (LTC). The analyst claims that LTC needs to keep its immediate support intact to maintain its uptrend.
“The trend is still up, but facing crucial resistance at $65. I would like to see it hold above $58 and would look to buy around $60. If these hold, we will undoubtedly see a continuation to $75 and possibly $95.
At the time of writing, LTC is trading at $61.75, up 1% in the last 24 hours.
The Harmony (ONE) smart contract platform is also on Van de Poppe’s list. According to the trader, Harmony shines brightly in its Bitcoin (ONE/BTC) pair.
“A clear support order block should be around 0.00000115 BTC ($0.027). If so, I suspect another push is occurring towards 0.00000165 BTC ($0.039). Entries are also in the region 0.00000114-0.00000125 BTC ($0.027-$0.030).
At the time of writing, 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 predicts a 40% rally for CELR as long as the bulls hold the support closest to the coin.
“The trend is up as continuously higher lows are being created. I would like to see $0.0235-0.024 as support then $0.034 is possible.
At the time of writing, CELR is up more than 3% on the day at $0.025.
Van de Poppe is also monitoring the price performance of the 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 as losing support at $0.007 could trigger a drop of more than 17%.
“Currently on the support but if this one is lost I don’t know if I want to play $0.0065 or if I want to play $0.00575. Goals are clear, most likely 0, $01 is doable if the support holds.”
The RSR is stable on the day, trading at $0.0074.
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Feature image: Shutterstock/Roman Amanov