Top Analyst Says One Group of Altcoins Can Pull Off 10x Rallies, Updates Outlook on Three Crypto Assets
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Crypto trader Michaël van de Poppe is eyeing several crypto assets as well as one blockchain sector that he says is experiencing major adoption.
In a new tweet, the popular analyst presents his 584,800 Twitter followers with a chart tracking the price action of decentralized oracle network Chainlink (LINK) dating back to September of 2020.
“Let me repeat the question. If a chart looks like this, and oracles are extremely heavily needed in DeFi [decentralized finance] + LINK is the largest by a mile.
Would you be interested in selling or buying the underlying asset?”
At time of writing, Chainlink is trading even on the day and priced at $14.03.
Next on Van de Poppe’s radar is Ankr (ANKR), whose native protocol harnesses Web 3.0 to simplify cross-chain interaction and staking.
“This one is inside a range, crucial support levels beneath here.
If it breaks $0.10, then party time is ready. Would be interested in the lower levels.”
Ankr is currently down a fraction and priced at $0.07.
Last on the chart guru’s altcoin list is Reserve Rights Token (RSR), an anti-inflationary project which aggregates baskets of tokenized assets. RSR has been on a slow downward trend for several months.
Van de Poppe asks,
“If a chart looks like this, would you be interested in buying or selling the underlying asset?”
Currently, Reserve Rights Token is down 2.1% and exchanging hands for $0.013.
Van de Poppe concludes his tweetstorm by highlighting how significantly smart contract platform Avalanche (AVAX) has grown. He believes such massive adoption means layer-1 blockchain projects have the potential to increase their value tenfold.
“Daily created accounts on Avalanche reached a new [all-time high] with 500,000+ accounts being created.
Adoption? Yes. The market is growing faster and faster. It’s accelerating.
Layer-1s can easily go 10x and have a proper value at that point given the perspectives they have.”
Avalanche is up by 1.6% on the day at time of writing, valued at $77.72.
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Featured Image: Shutterstock/Alberto Andrei Rosu/Natalia Siiatovskaia
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