![]() ![]() In this line, Poppe views the movement as a downward trend, as indicated by lower highs and lows.Īccording to the analyst, if Bitcoin breaks out to the upside, Ether is likely to be tested, but this would have little impact on its value against USDT. While Ethereum ( ETH) saw a surge in value during the hype leading up to the Merge upgrade, it subsequently underwent a correction following the Shanghai upgrade. ![]() Notably, LINK has, in recent weeks, recorded mixed price movement despite increased network activity. He noted that at the current valuation, Chainlink is underperforming. This indicates that now is the time for investors to accumulate their positions in Chainlink. ![]() He pointed out that the LINK May 2022 bottom of about $6.5 is being retested, and double bottom tests typically trigger a reversal. Source: CoinMarketCap Chainlink (LINK)Īs per Poppe’s analysis, there is still potential for Chainlink ( LINK) to rally in the coming days stating that it is in the accumulation phase. By press time, the meme coin was trading at $0.0000029 with weekly gains of over 500%. However, Poppe cautioned that despite the recent gains, PEPE is not a good investment option, but it has potential for trading purposes. Conversely, if a bearish divergence followed a significant upward trend, it would be a short play.Īccording to Poppe, if the meme coin’s value drops again, it would be another bounce play while acknowledging that these trades were straightforward to execute, as they had been occurring frequently. The meme coin has been gaining traction in recent weeks, with the analyst pointing out that the token still has some upside in the coming days ‘until proven otherwise.’ He observed that if the price of Pepe remained stable or increased slightly, it would be a bounce play. He, therefore, identified the following three coins to watch out for as attention turns to altcoins. He predicts that if Bitcoin breaks $30,000, its dominance will increase until it consolidates, and money will then flow to Ethereum ( ETH) and other altcoins. In a YouTube video posted on May 6, the recognized investor suggested that the current crypto market run may be approaching its end stage, as indicated by the continuous upward trend in the Bitcoin dominance chart. ![]()
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