The day began with a bullish outlook as Bitcoin and other altcoins, including Ethereum, BNB, XRP, Cardano, and LINK, saw a bull run. This has caused a 1.27% increase in the global crypto market cap over the past 24 hours.
Meanwhile, crypto analyst and trader Michael van de Poppe has made bullish predictions for Chainlink, Polkadot, Binance Coin, and two other cryptocurrencies.
In a recent video for his 163,000 Youtube subscribers, Michael van de Poppe predicts that Chainlink will drop nearly 20%, falling to around $4.50 to $5. However, he believes this decline will be short-lived and that Chainlink will see a relief rally near $17 once it forms a dip.
Currently, Chainlink is selling at $5.77 with a 1.73% increase in the past 24 hours.
In his video, the analyst also discusses Polkadot, stating that it has already entered a relief rally. He predicts that Polkadot will rise by 432%, reaching a target of $16 to $24. The analyst is confident that Polkadot will experience a significant bullish momentum in the near future.
Currently, Polkadot is trading at $4.64 with a 2.47% increase over the past 24 hours.
The analyst also believes that Cosmos will continue its current bull rally. According to Van de Poppe, once Cosmos moves beyond $25.97, it will easily reach a target of $35. He notes that a similar pattern was observed in 2019 and 2020.
At the time of publication, Cosmos has gained 0.97% in the past 24 hours and is currently trading at $10.22.
Binance Coin (BNB)
The analyst also discusses Binance’s native currency, BNB. He notes that BNB is currently trading at a support level of $233 and predicts that if Bitcoin maintains its upward momentum, BNB will surge to around $400. However, Van de Poppe also believes that BNB will hold strong even if the market experiences negative trends.
Currently, BNB is valued at $254 after a 3.53% increase in the past day.
SKALE (SKL) Price
Lastly, Michael van de Poppe concludes his analysis with SKALE, predicting that if it moves past $0.025, there will be a strong bull run. He predicts that SKALE will reach a target of $0.200 if the bullish momentum is sustained.
Currently, SKALE is trading at $0.0222 after a 4.81% increase in the past 24 hours.