A prominent crypto analyst and trader, Michaël van de Poppe, is of the belief that Polkadot (DOT), a competitor to Ethereum (ETH), is currently undervalued in the market. Van de Poppe, who has a substantial following on the social media platform X, predicts that DOT will follow ETH’s upward trend. He argues that the current valuations of Polkadot are exceptionally low and anticipates significant growth in the Polkadot ecosystem across various sectors.

Analyzing the charts, van de Poppe highlights the possibility of a bullish divergence for DOT on the three-day chart. This occurs when the price chart shows a lower low, but the corresponding indicator reveals a higher low. Despite this potential, DOT is currently trading at $6.20, experiencing a decline of nearly 2% within the last 24 hours.

Shifting his focus to Bitcoin (BTC), van de Poppe predicts that the cryptocurrency will consolidate around the lower $60,000 range in the near future. He suggests that altcoins may yield higher returns than Bitcoin during this period of consolidation. According to his chart analysis, Bitcoin is expected to fluctuate around $60,000 before eventually reaching approximately $64,000. At present, Bitcoin is trading at $60,757, marking a 1.47% decrease within the last 24 hours.

Lastly, van de Poppe states that Chainlink (LINK), a leading blockchain oracle service, is likely to experience a rally against Bitcoin (LINK/BTC) in the coming weeks. He observes a significant start for LINK, with a weekly candle indicating an 11% increase in the Bitcoin pair. Van de Poppe suggests that this marks the cycle low for LINK and expects it to be the bottom during this period of consolidation. Currently, LINK/BTC is trading at 0.0002308 BTC ($13.92).

It is important to note that the opinions expressed by van de Poppe are not investment advice, and investors should conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Transfers and trades are undertaken at one’s own risk, and any resulting losses are the responsibility of the individual. The Daily Hodl, where van de Poppe’s insights were shared, does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it serve as an investment advisor.