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BTC, AVAX, and LINK Price Poised For Short-Term Rally Soon! Analyst Michal van de Poppe Maps The Levels

On Tuesday morning, both biggest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) were trading higher. The full total value of the cryptocurrency market increased by 1.77 percent to $1.12 trillion. On Monday, Bitcoin (BTC) maintained its upward trend. The biggest cryptocurrency by market capitalization crossed $24,000 in the morning and held that level in to the afternoon.

While keeping a careful eye using one large-cap digital asset, a well-known crypto strategist is forecasting rallies for Avalanche (AVAX), a competitor of ethereuminformation ethereum Blockchain NetworkTechnology Followers : 0 View profile . AVAX appears ready for a substantial rally, in accordance with Michal van de Poppe, after overcoming resistance at $26.

#Avalanche looks ready for continuation here:

Attacking the highs at $26 for the 3rd time.

Breaking that resistance activates acceleration with all previous highs (shorts getting stopped).

50-Day MA holding as support.

Targets:

$36

$42 pic.twitter.com/b6fgpF0MQS

Michal van de Poppe (@CryptoMichNL) August 6, 2022

He said that AVAX is ready to create a third try to hit the $26 levels. When that resistance is broken, all previous highs are activated for acceleration. His targets are $36 and $42 if the 50-day moving average continues to serve as support.

The decentralizedinformation decentralized [emailprotected] Event Organiser Followers : 0 View profile oracle network Chainlink (LINK) may be the next altcoin on the traders list, and in accordance with Van de Poppe, it really is offering enormous prospect of long-term bulls.

He stated that Chainlink gets near $8. The BTC and USD pairs seem to be accumulating a lot, but he still thinks it is a once-in-a-lifetime opportunity. While its down 85% from the last all-time high, it really is among the assets to stock for another bull run.

Bitcoin

Van de Poppe warns short-term traders that pullbacks remain possible but claims that Bitcoin still includes a bullish outlook.

Short corrections are possible, but trend continues to be up. Looking quite fine on the bigger timeframes for Bitcoin.

Are you aware that BTC price, close to the $24,000 mark, there’s imminent resistance on the upside. Close to the $24,200 region comes another significant resistance. Closing on the $24,200 resistance level might signal the start of a continuing rise.

Bitcoin can start a downward correction if it’s unable to go through the $24,000 barrier level. Close to the $23,600 mark, there’s the immediate support on the downside.

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