A popular crypto trader and top strategist says that one altcoin is primed for a breakout.
Analyst Michaël van de Poppe tells his 126,000 YouTube subscribers that the Ethereum-based blockchain network Chainlink (LINK) appears primed for a breakout.
Van de Poppe notes how that the pattern in LINK’s chart signals an upward surge.
“It’s very likely that we’re going to have a breakout happening here. You see this construction quite often, in which… we are making some sort of rounded bottom.
A rounded bottom implies we’re going to have higher lows [and] higher highs quite swiftly.”
Van de Poppe says that if LINK can sustain a specific key level, it will continue to climb.
“At this stage, if Chainlink is going to sustain above this level here, which is around 60,000 (.0006 BTC) satoshis ($28.87), I think we are eager for a breakout to the upwards momentum.
The next run of Chainlink will be happening toward around 80,000 satoshis (.0008 BTC) ($38.50), implying a run of 30%. But then we are most likely going to get a new cycle for Chainlink as well, implying we’re going to have some serious continuation on the markets.”
Chainlink is currently trading at $30.76, a 26% increase from its 30-day low of $24.38 and a 17% decrease from its 10-day high of $36.00, according to CoinGecko.