It is well known that the cryptocurrency market is now trapped between the bulls and the bears. Since the crypto markets collapsed alongside the rest of the world’s financial markets in the summer, the sector has been mired in a prolonged bear market that doesn’t seem to be ending any time soon.
However, with the recent Dogecoin rally, there has been a glimmer of hope, and analysts have begun to update and foresee what the future may hold.
cryptocurrency analyst has updated his predictions for Dogecoin (DOGE) and ETH scaling solution Polygon while forecasting a rise for the Ethereum (ETH)-based altcoin Chainlink (LINK) (MATIC).
LINK Price Analysis
Decentralized oracle network Chainlink, according to cryptocurrency trader Michael van de Poppe, may rise to $11 after effectively converting the $7 price range into a crucial support level.
He said that Chainlink had been performing really well and the biggest trading opportunity he is considering is $7.60. But he said that we already grabbed it at $7.35 thanks to a stunning continuation that induced a support/resistance flip, putting us at the range high right now. This leads him to assume that Chainlink will see a significant breakthrough and surge toward $11.
Dogecoin and Polygon Rally May be On Horizon
Van de Poppe is focusing on Dogecoin and claims that following a significant gain last week, the meme token’s current trend is downward. The trader argues that if DOGE is able to breach a crucial level, the trend may be reversed.
“If we reject around $0.127 again, you’re looking for longs around the area of $0.105 to $0.11 and then you can start playing this bounce for approximately 15%. If we do have a break around the upside although, if we break $0.13 cents for instance, then we can start targeting the range highs [$0.16] again.”
Van de Poppe then gave his opinion on MATIC, warning bulls that the hot altcoin is now likely to fall to $1 after reaching the price goal of $1.30.
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