The crypto markets have seen renewed momentum this past week, with Bitcoin rallying over 11% to near $30,000 and altcoins like Chainlink seeing even bigger gains. As traders wonder whether this signals a broader trend reversal or just a temporary bounce, crypto analyst and trader Michaël van de Poppe has shared his thoughts on where some major cryptocurrencies may be headed next:
“If Bitcoin has finished its run, then that’s when ETH starts to pace up, that’s when the other altcoins start to pace up.”
Van de Poppe believes Ethereum and altcoins will start to outperform once Bitcoin finishes its current run. With Bitcoin facing resistance near $30,000, an ETH and altcoin breakout could be forthcoming if BTC stalls out here.
“The actual ROI is currently being made in Bitcoin, so the markets are waking up, the sentiment is switching.”
He notes that Bitcoin is still generating the best returns in the current market environment. But with sentiment beginning to turn bullish again, capital may start flowing back into altcoins soon.
“Chainlink is currently making itself ready for the breakout out of the range.”
Regarding Chainlink, van de Poppe sees it poised for a breakout from its recent trading range between $6-$10. After surging over 25% this past week, a move past $10 could trigger an even bigger rally. He believes a decisive move above $10 for LINK could open the door for a run towards $14 next.
“Once we start to break this level (referring to Chainlink), we can suspect we’re going towards $14.”
Beyond Chainlink, van de Poppe also highlights Anchor as an altcoin facing a potential breakout. If it can break past key resistance, he sees a rally to 26 cents as possible.
“Some other altcoins that I’ve been looking at, for instance, Anchor, it’s currently facing a potential breakout. If it starts to break out, I’m suspecting we are rallying towards 26 cents.”
With Bitcoin at a critical juncture and altcoins gaining momentum, traders will be closely watching whether van de Poppe’s analysis plays out over the coming weeks. If BTC stalls and profits rotate into alts, the analyst’s targets could quickly come into play.
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