A widely followed crypto strategist believes that decentralized oracles running on Ethereum (ETH) are gearing up for a major market reversal.
Analyst Michael van de Poppe told his 733,600 followers on social media platform X that he has a bullish view on Chainlink (LINK).
Van de Poppe predicts that LINK’s immediate resistance will break once the altcoin starts moving higher again.
“We believe LINK will break out within the next week or two.
Another test at $13 will trigger –> Next is $18. ”
Source: Michael van de Poppe/X
As of this writing, LINK is trading at $10.96.
Focusing on Ethereum itself, Van de Poppe shares a chart that suggests ETH could rise above $3,300 if it breaks through a key resistance level.
“ETH has risen and now the macroeconomic week has begun.
The question is, will we see some upward momentum or will we see a retest of $2,000?
Try $2,750 again = breakout. ”
Source: Michael van de Poppe/X
At the time of writing, Ethereum is worth $2,479.
The final altcoin on a trader’s radar is the native asset of layer 2 solution Optimism (OP). According to Van de Poppe, OP is one resistance level away from witnessing a big burst to the upside.
“I think next week will be the week when the ETH ecosystem wakes up.
The OP is doing great and is just starting to integrate.
$1.75 or more = party time. ”
Source: Michael van de Poppe/X
As of this writing, OP is trading at $1.56.
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