Pepe Prepares for a Strong Rally, According to Crypto Analyst Michael van de Poppe - COINTURK NEWS
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Pepe Prepares for a Strong Rally, According to Crypto Analyst Michael van de Poppe

8:35 am (46 days ago)
August 15, 2023

Experienced crypto analyst Michael van de Poppe believes that Pepe (PEPE), considered as the competitor of the biggest memecoin Dogecoin (DOGE), is preparing for a strong rally. The analyst also evaluated the current outlook for Chainlink (LINK) and Bitcoin (BTC).

Pepe Follows SHIB and DOGE’s Lead

Crypto analyst Michael van de Poppe stated that amidst the recent surges of DOGE and Shiba Inu (SHIB), PEPE is also preparing for a remarkable rally. After converting the resistance at $0.00000127 into support, van de Poppe mentioned that he is looking to accumulate PEPE, saying, “As memecoins seem to gain some momentum, I am looking for some buying points in PEPE. I have DOGE and SHIB in my portfolio, and PEPE is following them. Breaking the level of $0.00000127 triggered the jump.”

At the time of writing, PEPE is trading at $0.000001387 with a 2.5% increase in the last 24 hours. Looking at the price chart shared by the analyst, it can be seen that he expects the upward momentum to continue in the memecoin, and the real rally is expected to start once the resistance zone around $0.0000015 is surpassed.

Analyst’s Commentary on Chainlink (LINK) and Bitcoin (BTC)

Van de Poppe also evaluated the current outlook for Chainlink (LINK), a decentralized oracle network that has been expected to make a significant breakout for a long time. He expressed that if the price drops to the $7.30 support level, which he expects due to LINK’s rise to $8.44, he would consider this drop as a buying opportunity.

Finally, when it comes to Bitcoin (BTC), the analyst who looks at the stagnant price movement still expects an upward trend in the largest cryptocurrency. Pointing out that he is waiting for two levels to make a purchase in BTC, he said:

There have been extremely surprising price movements in BTC recently. I still believe that the upward momentum will continue. I don’t think we have hit the bottom and there won’t be a major correction. If we lose the $29,000 support, I would buy at $28,200. If we manage to surpass $29,700, it means that party time has come.

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