Important Analyst Predicted Bullish Momentum For Crypto Markets

It’s been revealed that an important analyst just predicted a bullish momentum for the crypto markets. Check out the latest reports and predictions below.

It’s been just revealed that a popular crypto analyst, Michaël van de Poppe, is predicting rallies to the upside for the crypto markets as he offers a fresh forecast for leading smart contract platform Ethereum (ETH).

Van de Poppe recently said that he’s keeping a close watch on Tether Dominance chart (USDT.D), which shows how much of the crypto market cap is comprised of stablecoin Tether (USDT).

According to Van de Poppe, the USDT.D chart has a lot of room to drop. It’s also important to note the fact that he suggested that market participants are likely to let go of their USDT positions in favor of other crypto assets.

“The USDT dominance is still eager to drop another 23%, resulting into the markets having some more momentum upwards.”

Regarding Ethereum, Van de Poppe said that ETH is likely to face resistance against Bitcoin (ETH/BTC) in the near term. However, he expects the pair to sustain its bullish momentum heading into September.

“Basically, a few levels on ETH. Facing resistance at 0.0725 BTC ($1,616). Facing support at either 0.0645 BTC ($1,437) or 0.057 BTC ($1,270). Overall, expecting more momentum going towards the merge in September.”

According to the latest reports, the trader Michaël van de Poppe said on Twitter that Chainlink (LINK) could explode from current prices nearing $7 to upwards of $10.

“Chainlink looks ready for $9.50-10.00, and there’s not much you can do about that. Trigger if flip happens.”

Diving deeper into ETH, the crypto analyst says he would be looking for shorts on the leading smart contract platform at current prices, though he sees strength in the upcoming Merge.

Stay tuned for more news from the crypto space.