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These Altcoins are Ready for a Drastic Upward Swing, Bullish Trade Set-Up for Chainlink(LINK), Decentraland (MANA) & Thorchain(RUNE)

Written by: Sahana Vibhute

May 24, 2022

A very popular analyst Micheal de van Poppe has yet again bought an altcoin trio and expects a significant surge may be incoming. The altcoins include Chainlink (LINK), Decentraland (MANA) and Thorchain (RUNE). The analyst tells his 600K followers that LINK price is on the foothill of a massive uptrend after experiencing a massive bounce of more than 86%. From its highs around $53. 

This is one of the altcoins which has faced a massive rejection ever since its ATH at around $53. However, the altcoin appears to have ignited an upward swing after a brief consolidation that may uplift the price above $10, but he says, 

“ For that, it has to crack $7.5. If that breaks, I think we’ll be seeing $9 and potentially $10 next,”

Later considering the Decentraland (MANA) price rally, the analyst believes that a long trigger is activated towards $1.40. However, the initial resistance at $1.12 needs to be broken before, as it is facing a lower timeframe resistance at these levels. He says,

“ If that breaks and we flip if (like the scenario gives), a long trigger is activated towards $1.40,”

However, the support levels are hovering around $0.99 and $1.04 which needs to be secure strongly. 

Finally, the last coin the analyst believes would range high is Thorchain (RUNE) price which is displaying a strong momentum currently. He believes that the BTC pairs are getting crushed which are expected to remain dropped as the dominance is going up. 

“ Would like to see it hold around $2.90 to avoid further drops,” he adds. 

Collectively, the analyst also mentions that the USD’s DXY Index is continuing its descending trend and may bounce off from 101.76 to reach 102.69. But further, the index appears to be subjected to fall off from these levels towards 100. This may induce significant strength in the crypto space which may in turn the tables for altcoins. 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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