Analyst’s Evaluation of Chainlink (LINK) and Solana (SOL)
Experienced cryptocurrency analyst and trader Michael van de Poppe recently shared insights on the current situation of prominent altcoins Solana (SOL) and Chainlink (LINK). Here’s a breakdown of his analysis:
Solana (SOL): A Strong Uptrend
Poppe highlighted Solana’s position in the market, describing it as a strong rival to Ethereum (ETH). According to his assessment, SOL is currently amidst a robust uptrend that could potentially reach $40. Poppe expressed confidence in SOL’s outlook, stating, “Strong outlook and strong uptrend. If we reach $36-39 this time, I won’t be surprised. If there is a deeper correction, I would like to buy some SOL at $26-28.”
Chainlink (LINK): Breaking Out of Consolidation
Turning his attention to Chainlink (LINK), Poppe noted that this popular altcoin has finally broken out of months-long consolidation and is showing signs of strength. He remarked, “It has broken out of the range that has been maintained for a few months and continues to show strength. I won’t be surprised if it rises towards $12.5-13. If there is a deeper correction, it is necessary to buy at $9.60-10 before it continues.”
Poppe’s Expectations for Arbitrum (ARB)
Poppe’s watchlist also includes Arbitrum (ARB), a Layer 2 scaling solution. He expressed optimism regarding ARB’s rally, anticipating its continuation. He suggested, “I expect the rally in ARB to continue. Ideally, it could pull back to around $0.85-0.88 before reaching $1.11. If there is such a pullback, it is necessary to start buying at these levels. Testing the $0.98 resistance will likely result in an upward breakout.”
Current ARB Market Status
As of the latest data, ARB is trading at $0.9328, with a market capitalization of $1.19 billion and a 1.45% increase in the last 24 hours.
