Chainlink (LINK) Poised To Notch 122% Gains, Analyst Says
In a recent post on X, popular crypto analyst Michaël van de Poppe presented a bullish case for Chainlink (LINK), predicting that the altcoin could potentially double its market price in the coming months. Van de Poppe based his analysis on the LINK/BTC 3-day chart and highlighted LINK’s positive performance in the first two weeks of February, during which the token rose by 32.77% to trade above $20.
However, despite this impressive price gain, Chainlink failed to break through a crucial resistance zone at 0.00480 BTC, indicating a lack of momentum for a breakout. According to van de Poppe, Chainlink is now seeking a higher low as its support level, which could potentially lead to a price reversal and a return above $20. The analyst believes that if this scenario plays out, LINK could reach a price range of $30-$40 within the next few months, resulting in a potential maximum gain of 122.71% from its current market price.
LINK Price Overview
Currently, Chainlink is trading at $17.96 with a slight gain of 0.11% in the last day. The token’s daily trading volume has experienced a minor decline of 0.70%, amounting to $426.65 million. In terms of market capitalization, Chainlink holds the 12th position among cryptocurrencies with a total market cap value of $10.55 billion.
(Source: LINKUSDT chart on Tradingview.com)
Hot Take: Bullish Outlook for Chainlink
Despite the recent price decline, there is still optimism surrounding Chainlink’s future performance. Here are some key takeaways:
1. Michaël van de Poppe, a well-known crypto analyst, predicts that Chainlink could double its market price in the coming months.
2. The analyst believes that LINK is seeking a higher low as its support level, which could lead to a price reversal and a potential breakout above $20.
3. If van de Poppe’s prediction holds true, Chainlink could reach a price range of $30-$40, resulting in a maximum gain of 122.71% from its current market price.
4. Currently, Chainlink is trading at $17.96 with a slight gain of 0.11% in the last day.
5. The altcoin holds the 12th position in terms of market capitalization, with a total market cap value of $10.55 billion.
Considering these factors, it is clear that despite the recent price decline, Chainlink continues to attract attention and remains an interesting asset to watch in the crypto market.
Remember to do your own research and analysis before making any investment decisions. Cryptocurrency investments carry risks, and it’s important to stay informed and make well-informed choices.
Sources: [X](https://x.com/CryptoMichNL/status/1761031909210001571?s=20), [LINKUSDT chart on Tradingview.com](https://www.tradingview.com/chart/xg17RJqK/)
By
By
By
By