Chainlink, Decentraland and One Additional Altcoin Gearing Up for Breakouts: Analyst Michaël van de Poppe

Widely followed crypto strategist Michaël van de Poppe is calling rallies for a trio of altcoins, including decentralized oracle platform Chainlink (LINK) and virtual reality platform Decentraland (MANA).

Van de Poppe tells his 604,200 Twitter followers Chainlink is potentially setting up for a bounce after losing over 86% of its value from its all-time high of $53.

“This one is still having a massive correction since the all-time high in 2021.

However, looking like we’ll be having an upwards breakout too.

For that, it has to crack $7.50. If that breaks, I think we’ll be seeing $9 and potentially $10 next.”

Source: Van de Poppe/Twitter

At time of writing, Chainlink is changing hands for $7.02.

Next up is MANA, which Van de Poppe says must take out its initial resistance at $1.12 to trigger a breakout rally.

“Facing low timeframe resistance around $1.12.

If that breaks and we flip if (like the scenario gives), a long trigger is activated towards $1.40.

Supports; $0.99 and $1.04.”

Source: Van de Poppe/Twitter

Decentraland is currently trading at $1.05.

The last coin on the trader’s radar is THORChain (RUNE), a blockchain platform designed to facilitate the secure and cheap transfer of assets between different blockchains.

According to Van de Poppe, RUNE must stay above support of $2.90 to have a shot at rallying toward $3.28.

“This one is showing some momentum here, just like everything. The BTC pairs are getting crushed, and I think it will last for a bit more (Dominance going up).

However, USD trades can be done. Would like to see it hold around $2.90 to avoid further drops.”

Source: Van de Poppe/Twitter

THORChain is valued at $3.00 at time of writing.


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