AVAX, SOL and LINK Crypto Prices Can Go Up 200 Percent

The prices of AVAX, Solana (SOL) and Chainlink (LINK) cryptocurrencies are predicted to rise up to 200 percent, following the slick rally of Bitcoin (BTC).

Leading crypto analyst Michaël van de Poppe said altcoin prices could soar up to 200 percent as Bitcoin (BTC) and many other crypto assets rally very significantly.
Van de Poppe on Twitter said on Friday (29/7/2022), investors can get big returns for Avalanche (AVAX), Solana (SOL) and Chainlink (LINK) cryptocurrencies.

“Crypto markets look poised to continue moving higher. Bitcoin and other altcoins broke above the 50-day moving average (MA). Bitcoin for example has broken through the 200 week MA. There seems to be a continuation of the altcoin for 100-200 percent," he said.AVAX, SOL and LINK Crypto Prices Projected to Strengthen

Poppe believes the price of the AVAX crypto could reach US$41 from its current price of US$24.34.

AVAX had already printed above the previous day's 50 MA, retest confirms buying pressure. Acceleration occurred above US$26 with all previous highs. The possible target is US$37-41.He said that Solana (SOL), which is currently trading at $43.31, could jump to $84, an increase of nearly 94 percent.

As for Chainlink (LINK), Poppe said this is also a good time to buy it, as it is still trading at US$7.20.“Chainlink looks poised for a good breakout. I still believe US$6-8 for LINK,” he said again.

The crypto market is indeed soaring, after the Fed announced a 75 basis point rate hike a few days ago. The amount is considered soft, because it is outside the market consensus, 100 bps. Even the Fed Chair, Jerome Powell stressed interest rate cuts could start next year, if inflation can be reduced to 2 percent from the current 9.1 percent as of June 2022.The United States officially entered a technical recession, due to negative economic growth in two consecutive quarters.

This situation made the dollar value drop drastically, based on dollar index data (DXY), from previously 109 on July 14, 2022 and now to 105.9. The sell signal by the SuperTrend indicator against DXY appeared on July 18, 2022, on a 4-hour time frame. On the daily time frame, DXY is testing further declines around the 104 (MA50) range.Previously, the Dutch financial conglomerate, ING Group, projected that the Fed's interest rate will decrease from September 2022 to only 50 basis points. Even rate cuts begin in June 2023. If the formula that the crypto market's buying passion is due to low interest rates, then this could benefit Bitcoin and other cryptocurrencies.