Van de Poppe: LINK, VET And VRA Getting Ready To Bounce Back
According to a leading crypto market analyst, Michaël van de Poppe, three altcoins, Chainlink (LINK), VeChain (VET) and Verasity (VRA) are preparing to bounce back.
Van de Poppe shared with his 601.5K followers on Twitter that while LINK’s price action hasn’t looked so great lately, it is likely to find support and launch up in the near future.
“Not the most beautiful chart, but this is my scenario at this point.
In that case, I’m expecting a continuation towards $12.50 to be happening, before a bearish rejection and some retests, after which the bull starts again.”
Not the most beautiful chart, but this is my scenario at this point.
In that case, I'm expecting a continuation towards $12.50 to be happening, before a bearish rejection and some retests, after which the bull starts again. pic.twitter.com/cD4JEWOEUf
— Michaël van de Poppe (@CryptoMichNL) May 16, 2022
At the time of writing, LINK trades at $7.75, up 1.4% on the daily chart.
VeChain (VET)
Next up is VeChain (VET), an enterprise-solution-focused blockchain. Despite VET currently trades way below its all-time highs, van de Poppe believes that VET is about to reverse its market trend.
“This one is relatively simple.
Lost the support around $0.045 and started falling down towards the high of the previous cycle in 2020.
Expecting that to be a massive resistance and some sideways action.
— Michaël van de Poppe (@CryptoMichNL) May 16, 2022
At the time of writing, VET trades at $0.03272, up 3.6% on the daily chart.
Verasity (VRA)
Last altcoin on the analyst’s list is Verasity (VRA), a next-gen video-sharing blockchain platform. While VRA has already been through a dramatic bear market, van de Poppe believes it will go down a bit further before reversing.
“This one is having a heavy bear market.
The ultimate low could be $0.0035, but that’s depending on the market structure.
Overall, expecting a little more upwards momentum of around 40-60% towards $0.012 for a bearish retest.”
