Ethereum (ETH), Chainlink (LINK) and an Altcoin DeFi Poised for a Rally, Cryptocurrency Analyst Says

A popular crypto trader predicts rallies for Ethereum (ETH), Chainlink (LINK), and a decentralized finance (DeFi) altcoin.

The pseudonymous analyst known as Altcoin Sherpa declare to to his 184,100 Twitter followers that he expects ETH to at least break above the $1,500 level, which is about 11% higher than current prices.

“ETH: I think it’s going up to at least 1500 to be honest. It seems to be forming a short-term bottom overall and I still think it’s decent.”

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Altcoin Sherpa said The decentralized oracle network Chainlink also appears to be at a breaking point. Based on the analyst’s chart, he expects LINK to approach the 200-day moving average, around the $10 mark, about 30% below the current price of $7.67.

“LINK: Are you ready? »

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Altcoin Sherpa is also eyeing Injective Protocol (INJ), a decentralized exchange (DEX) on the Ethereum network that offers margin trading and derivatives on a cross-chain platform.

The pseudo-analyst says he is targeting an entry point near the $1.70 level before targeting the $2.20 range.

“INJ: Buy strength in this market. I’ll buy the next drop when it comes and I feel comfortable with it. Probably mid $1. »

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When it comes to Bitcoin, Altcoin Sherpa remains generally bearish on BTC, expecting another leg down to be the next big move.

“BTC: Consolidation in another leg down has been the case throughout 2022, will it be different? The trend is always bearish until proven otherwise. It’s crap and scary and a big move is coming. »

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