The post Altcoins That Are Flashing Once in a Lifetime Opportunity – Time To Buy The Dip? appeared first on Coinpedia Fintech News
Altcoin enthusiasts have not had much to cheer about during the 2022 cryptocurrency winter. Even more significant losses were experienced by the larger crypto market as a result of the price of Bitcoin (BTC) continuing to fall. The altcoins appear to be primed for an explosion, nevertheless, following the current market recovery in early 2023.
Avalanche (AVAX), Polygon (MATIC), and Chainlink are among the altcoins that cryptocurrency strategist Michael van de Poppe believes will continue to rise in value.
Van de Poppe stated that he still thought the direction for the smart contract platform Avalanche was upward.
“Difficult chart, it’s in between levels, the trend is still up. Great bounce from $18 and looks for continuation. Would be interested between $18-19, targeting $25 or higher.”
The blockchain scaling solution Polygon, before the next leap up, may slump to a price level of around $1.25. He does, however, add that MATIC could simply keep uniting against its immediate resistance.
“Slight correction took place, continuation towards next resistance around $1.65. If there’s a dip towards $1.25-1.35, then I’m assuming we’ll be buying for the continuation of the rally. The trend is simple.”
The decentralized oracle network Chainlink is another altcoin that analysts are keeping an eye on. According to Van de Poppe, LINK is currently offering an “opportunity of a lifetime.” He claimed that it is just beginning to break out, and if we see a retest of around $7.80, he would be pleased to buy. Resistance is at $8.50–9.00, after which it will move on to $15–20.
Van de Poppe is also keeping an eye on the Fantom smart contract protocol, which he predicts will continue to correct before starting to rise again.
“Gave a substantial correction towards $0.42. Massive bounce of 40% from there. Looking at a case of $0.48 as a potential entry, might have already been hit at $0.52. Continuation upwards seems likely.”
As for the native asset of the decentralized exchange, GMX, Van de Poppe believes that before its trend continuance, GMX is also probably overdue for a downturn.
According to him, there are two interest levels offered here: $72 and $67.50. If it does, we can just keep buying the dips until the trend changes. The next goal might then be $100.