Renowned cryptocurrency analyst and trader Michaël van de Poppe has highlighted an undervalued contender to Ethereum (ETH) in his latest market insights. Sharing his perspective with his substantial following of 722,500 on X, van de Poppe suggests that Polkadot (DOT), a layer-2 scaling solution, is poised to mirror ETH’s upward trajectory.

“DOT is likely to track Ethereum’s upward movement, indicating that Polkadot’s current valuations are notably conservative. I anticipate significant growth within the Polkadot ecosystem across various new sectors.”

Examining his chart, van de Poppe identifies a potential bullish divergence for DOT on the three-day chart, where a lower low on the price chart is accompanied by a higher low on corresponding indicators.

As of the latest update, DOT is priced at $6.20, showing a marginal decline of nearly 2% over the past 24 hours.

Turning to broader market dynamics, van de Poppe predicts Bitcoin (BTC) to consolidate in the lower $60,000 range in the immediate future.

“Bitcoin recently tested the $61,000 mark, and I foresee continued consolidation, with altcoins potentially outperforming Bitcoin.”

Analyzing Bitcoin’s chart, the trader suggests a range-bound movement between $60,000 and a potential return to $64,000.

Bitcoin’s current trading price stands at $60,757, reflecting a slight decrease of 1.47% within the last 24 hours.

Additionally, van de Poppe anticipates that Chainlink (LINK), a leading blockchain oracle service, will rally against Bitcoin (LINK/BTC) in the near term, rebounding from a recent low within its weekly trading range.

“Chainlink has seen a robust start with an 11% increase on its Bitcoin pair this week, marking a likely cycle low amidst ongoing consolidation.”

At the time of writing, LINK/BTC is trading at 0.0002308 BTC ($13.92).

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