A widely followed crypto analyst believes one Ethereum (ETH)-based altcoin is gearing up for a massive breakout.
Crypto trader Michaël van de Poppe tells his 727,900 followers on the social media platform X that decentralized oracle network Chainlink (LINK) is looking bullish on the weekly timeframe as it consolidates above the key support level of $9.54.
He also highlights key resistance levels to the upside on the weekly chart, including $12.20, $16.05 and $18.55.
“Chainlink is still consolidating above the crucial resistance and flipping that for support. I think anything between $9-$11 is an interesting one to buy into. I mentioned it a few times, but it remains to be an opportunity of a lifetime.”
Chainlink is trading for $11.10 at time of writing, up 4% in the last 24 hours.
Next, he says that Bitcoin (BTC) is showing bullishness on the 12-hour chart after bouncing from the $60,000 level.
“Explained this in the past few days, I think Bitcoin is looking for its monthly low in the first week of October. [Friday] is unemployment day and I think that’s going to mark a lot. Holding onto crucial support, and reversing back upwards here indicates strength.”
Bitcoin is trading for $62,117 at time of writing, up more than 2% in the last 24 hours.
Lastly, he says that the native asset of the layer-one blockchain Sei (SEI) may be in an uptrend after bouncing off of a key support level at $0.39
“SEI is looking great. Significant correction, but likely trending upwards from this move, as it’s onto support. If this doesn’t hold, then I’m expecting to see a correction to $0.31. Reversing back up here and I think it will follow SUI’s path.”
SEI is trading for $0.41 at time of writing, up more than 6% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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