Ethereum

bullish

Better

Optimism

Chainlink

A trader now predicts a massive breakout for an Ethereum-based altcoin as it gears up for an awaited reversal. 
A well-known crypto strategist believes that a decentralized oracle operating on <a href="https://franknez.com/analyst-now-says-ethereum-is-headed-for-massive-capitulation/">Ethereum</a> (ETH) is poised for a significant market reversal. 
Analyst Michaël van de Poppe, who has 733,600 followers on X, expressed his bullish outlook on Chainlink (LINK). 
He predicts that LINK could break through its immediate resistance if it experiences another upward movement. 
“I believe LINK will make a breakout in the next one to two weeks. Another test of $13 will trigger a rise to $18 next,” he stated. 
As of now, LINK is <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="noreferrer noopener">priced</a> at $10.87. 
Turning to Ethereum, Van de Poppe shared a chart indicating that ETH could rally above $3,300 if it successfully breaches a key resistance level. 
“ETH has bounced back, and now macroeconomic factors are coming into play. The big question is whether we will see upward momentum or a retest at $2,000. If it tests $2,750 again, that could signal a breakout.” 
Currently, Ethereum is valued at $2,513. 
The final altcoin on Van de Poppe’s radar is Optimism (OP), the native asset of a layer-2 solution. 
According to him, OP is just one resistance level away from a significant upward movement. 
“I think next week will be pivotal for the ETH ecosystem. 
OP is performing well and is currently consolidating. 
If it surpasses $1.75, we could see some exciting action.” 
At present, <a href="https://coinmarketcap.com/currencies/optimism-ethereum/" target="_blank" rel="noreferrer noopener">OP</a> is trading at $1.56. 
But I’m curious to know what you think about these altcoins. 
Leave your thoughts below. 
For more&nbsp;<a href="https://franknez.com/daily-crypto-news/">Daily Crypto News</a>&nbsp;and updates like this, join the newsletter or opt-in for push notifications. 
Follow us on&nbsp;<a href="https://coinmarketcap.com/community/profile/FrankNez/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>. 
Also Read: <a href="https://franknez.com/strategist-believes-solana-will-do-better-than-bitcoin-this-cycle/">Strategist Believes Solana Will Do Better Than Bitcoin This Cycle</a> 
The post <a href="https://franknez.com/trader-now-predicts-a-massive-breakout-for-an-ethereum-based-altcoin/">Trader Now Predicts A Massive Breakout For An Ethereum-Based Altcoin</a> appeared first on <a href="https://franknez.com">Daily Market News 🗞️</a>.

Trader Now Predicts A Massive Breakout For An Ethereum-Based Altcoin

FrankNez

Other articles published on Nov 5, 2024

TSMC hardware lands in Huawei’s hands – a setback for U.S. sanctions on China

Enjin Coin Price Prediction 2024, 2025, 2030: Will ENJ Price Rise Again?

Marathon and Riot Boost Bitcoin Output Amid Record Difficulty

FTX's Nishad Singh Avoids Prison: Cooperation Earns Leniency Amid Crypto Collapse Fallout

OKX Ventures, The Open Platform, and Folius Ventures Launch $10M Telegram Growth Hub

Hogwarts Legacy 2 is under development as a “very big priority” for Warner Bros. Games

Join our free newsletter for daily crypto updates!