Altcoins are projected to make a bullish move if the current chart analysis holds true to form. MANA token has tons of upside expectations, but is there a new kid in town? Crypto coins are currently in a state of frozen animation, with any news or reports causing more anxiety for investors.
Chainlink (LINK) Needs a Breakout Above $7.50 to Advance
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.”
At time of writing, Chainlink is changing hands for $7.02.
Decentraland (MANA) Trading in Very Narrow Channel
Decentraland is a promising metaverse token that may fetch you a lot of money. Decentraland is, at its heart, a metaverse platform built on top of the Ethereum blockchain. Users may utilize the platform to produce and monetize digital content via various interactive experiences.
Users may even purchase and sell digital real estate inside the ecosystem while playing games. As more investors accept Decentraland (MANA), the token’s price increased by more than 50% in early 2022.
More MANA News: State of Crypto Showing Extreme Fear
Just like ApeCoin (APE), Decentraland MANA has not gained its momentum back. It once peaked at $4.88 but it has struggled to boom again and at the time of writing is trading at $1.11
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.”
Decentraland is currently trading at $1.05.
THORChain (RUNE) Momentum Must Stay Above Support @ $2.90
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.”
THORChain is valued at $3.00 at time of writing.
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