Which cryptocurrencies are still worthwhile now, which coins are facing a rally? A popular trader has commented on this in a new video and named five altcoins, which in his opinion could increase by 5 to 10 times in price.
DeFi-Coins “still very strong“
Michaël van de Poppe is likely to be one of the most popular traders in the ongoing bull run: More and more people are following the Dutchman on social media (on Twitter alone there are now more than 330,000 users)-and so far his crypto forecasts have an absolutely solid hit rate.
Now he has dealt with coins in a new video, which could be on the verge of a rally. Van de Poppe sees price increases of up to ten times. The focus of his video analysis is on the DeFi coins Aave (AAVE), yearn.finance (YFI) and yield aggregator DFI.money (YFII).
According to the analyst, the entire DeFi sector on Ethereum is ready to make a huge breakout to the top. In particular, YFI, YFII and AAVE would look” still very strong”.
Poppe explained: AAVE( to buy from eToro or Libertex) has not broken below key support levels on the AAVE/BTC chart at 0.00825 Satoshis (sats) and has held above the critical 100 and 200 day moving averages (MA). These are the critical support levels that AAVE needs to stay above.
Chainlink ready for a rally
But not only in the DeFi area, also in the so-called oracle area you can look for bullish momentum, emphasizes the analyst-ie for coins, where a rally is likely. Therefore, he also gives an outlook for Chainlink (LINK) and Band Protocol (BAND).
These decentralized oracle networks may be getting ready for a move up, the analyst believes. Chainlink, for example, is already showing strength again in its Bitcoin pair (LINK/BTC). Of course, the cryptocurrency number 1 sets the pace a little: If BTC does not drop, Poppe also considers LINK (the coin is also available at Libertex and eToro) a movement upwards likely.
“With Chainlink, you can see that the Bitcoin price is already back to pre-crash levels. What do we see at Chainlink versus Bitcoin? We see that we currently have the 100-day and 200-day MA as support, which makes the continuation likely, since we are just forming these higher highs and higher lows.“
With Band Protocol (BAND), Van de Poppe also believes a similar increase is possible once the coin can move past the resistance zone at around 0.0004 sats on the BAND/BTC chart.
Apparently, the signs of a new “DeFi summer” are increasing, with corresponding cryptocurrencies rising parabolically. Many DeFi coins have shown strength in the recent market crash or have recovered quickly, and many still offer attractive entry points.