According to a crypto analyst, altcoins are poised to double in price as the BTC relief rally continues 2022
As the markets enter summer, a well-known crypto trader is anticipating price hikes for a trio of crypto assets.
The recent BTC relief rally could imply that both BTC and altcoins are set to go on a run this month, according to crypto expert Michal van de Poppe, who has 608,100 Twitter followers.
“The odds for a relief rally this month are increasing as BTC recovered this entire move.
Altcoins on the daily time frame [are] also starting to look better.
This could be a relief rally of 50-100% on them. Be ready.”
In the case of BTC, Van de Poppe sees $30,400 as an appropriate support level, with a successful defence of the line allowing BTC to rise as high as $35,000.
“When it comes down to Bitcoin, it’s back in resistance and chopping around like crazy.
I’d like to see $30,400-ish hold as support. If that holds, finally, then I’m assuming we’ll see $32,800 and potentially $35,000.”
At the time of writing, Bitcoin was trading for $30,307 USD.
Chainlink, a decentralised oracle network, is next on the traders’ list (LINK). He believes that the altcoin’s strength at $7.25 suggests that what was earlier considered resistance (R) could now be considered support (S) (S).
“Well, $7.25 was indeed holding up for LINK and now it’s continuing the momentum towards $9 and hit that level.
Good S/R flip play.”
Chainlink is presently trading at $8.83, up 1.59 percent in the last 24 hours.
The native utility token of the non-fungible token (NFT) marketplace XAcademy Network is the last crypto asset on the trader’s radar (XCAD).
XCAD appears to be in good shape, according to Van de Poppe, who mentions the project’s widely anticipated live stream event on June 16th.
“XCAD is showing strength, as it’s moving towards $5 and a crucial breaker.
If we do break $4.80-5.00, then $6 and $8 are on the horizon + big event on the 16th coming up for XCAD.”
The current price of XCAD Network is $4.53.
Source: Daily Hodl
Text source: BuyUcoin Blog
