An Ethereum-Based Altcoin Set for a Major Price Increase, According to Analyst
A prominent crypto analyst believes that an altcoin built on the Ethereum blockchain is poised for a significant price increase after a final correction. Michaël van de Poppe, a well-known crypto strategist, suggests that Chainlink (LINK), a decentralized oracle provider, will experience a final correction before breaking out.
Van de Poppe predicts that 2024 will be a crucial year for Chainlink, with the price potentially reaching $12 to $15. He advises investors to expect some retests around the $7 level before the altcoin’s price surges.
Chainlink’s Potential Price Surge
At the time of writing, Chainlink is trading at $7.67. If van de Poppe’s prediction comes true, the altcoin could see an increase of up to 95%, landing it in the $12 to $15 range.
Altcoin Correction and Bitcoin Consolidation
In addition to his analysis on Chainlink, van de Poppe notes that while altcoins have experienced significant corrections, Bitcoin is consolidating. He expects “trendy coins” to continue showing momentum despite the correction as long as Bitcoin remains stable.
Potential Rally for Bitcoin
Van de Poppe also suggests that Bitcoin could rally to $30,000 if it successfully retests the $26,700 to $26,900 range. Holding above $27,200 would be crucial for further upward movement.
Hot Take: Chainlink’s Final Correction Could Lead to Major Growth
According to crypto analyst Michaël van de Poppe, Chainlink is likely to experience a final correction before breaking out and seeing significant growth. Van de Poppe predicts that 2024 will be a crucial year for Chainlink, with the altcoin potentially reaching a price range of $12 to $15. However, investors should expect some retests around the $7 level before the price surge. If this prediction comes true, Chainlink could see a 56% to 95% increase in value. Additionally, van de Poppe notes that Bitcoin is consolidating and expects “trendy coins” to continue showing momentum despite the altcoin correction. He also suggests that Bitcoin could rally to $30,000 if it successfully retests key support levels.
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