Trader Predicts Altcoins Set for Next Upward Movement, Forecasts Positive Momentum for Chainlink Competitor
A prominent crypto analyst has expressed optimism regarding altcoins, suggesting that they are poised for a significant surge while also predicting a substantial rally for a competing project to Chainlink (LINK).
In a recent social media post, Michaël van de Poppe, a well-known crypto strategist, shared his thoughts with his large following of over 692,000 on the X platform. Van de Poppe believes that altcoins have the potential to double in value over the next few months, citing the bullish higher low setup on the TOTAL3 chart. TOTAL3 tracks the total market capitalization of all cryptocurrencies except Bitcoin and Ethereum and currently stands at $481 billion.
Van de Poppe further predicts that Bitcoin will experience a rally to reach the $48,000 to $50,000 level before its upcoming halving in April. Following this rally, the analyst expects a correction down to $38,000, which he believes will create an opportunity for altcoins to outperform Bitcoin once again.
As part of his analysis, Van de Poppe specifically mentions API3, a decentralized oracle provider and competitor to Chainlink. He notes that API3 is showing signs of awakening and could potentially reach a price range of $4.60 to $4.80, as long as it maintains its support around $2.50. The analyst highlights the recent momentum and performance of oracles like PYTH and LINK, further supporting his claim.
At present, Bitcoin is trading at $42,686, while API3 is valued at $3.14.
In conclusion, Van de Poppe’s analysis suggests that altcoins are primed for a significant boost, with the potential for doubling in value in the coming months. Additionally, he predicts positive momentum for API3, with a price target of $4.60 to $4.80 if key support levels are maintained.