Top Analyst Predicts, Massive Rise in ETH-Based Altcoins in 2023

One altcoin built on the Ethereum (ETH) blockchain, according to a well-known cryptocurrency expert, is poised for a positive 2023.

Michal van de Poppe instructs his 164,000 YouTube followers in a new strategy session that the decentralized oracle network Chainlink (LINK) must eliminate its immediate opposition in order to spark a significant increase.

“If Chainlink is going to crack this resistance that we have here which is the area at $7.78, that is going to be the area after which we start to accelerate, so crucial resistance before $16 for Chainlink.”

LINK is now being exchanged for $6.05. The Ethereum-based cryptocurrency has an upside potential of more than 164% if it moves to Van de Poppe’s aim.

Despite being positive on Chainlink, Van de Poppe believes that the cryptocurrency may need to record a new bear market bottom below $5 before it can begin to rise toward his objective.

“If we don’t have that support level ($6) to stay in place, I’m going to look at a test around $5. If we can’t really have a support here, we sweep it ($5) again. I’m looking at a case like this (move below $5), in which [the reclaim of $6] is the trigger for a long entry in which you start continuing to the upside.”

Van de Poppe believes that Bitcoin (BTC), the leading cryptocurrency, is poised for an immediate upsurge.

“Bitcoin still holding levels here as we flipped $16,750 for support. If that holds (and no sharp fall to $16,400), I think we’ll still be able to see continuation to the upside to $17,400.”

At the time of writing, one bitcoin is worth $16,866.