Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Chainlink Bull Run Incoming? Most Recent LINK Price Predictions

CryptopotatoCryptopotato2024/05/02 20:34
By:Dimitar DzhondzhorovMore posts by this author

“If LINK stays above the $13.87 support, we could see a strong rebound to $15.50,” Ali Martinez claimed.

TL;DR

  • Chainlink’s LINK is poised for a rebound from its current $14 price, indicated by a positive TD Sequential buy signal.
  • Prominent analysts forecast significant returns for the asset, supported by favorable on-chain metrics suggesting a bullish move.

LINK Price Predictions

Chainlink’s native cryptocurrency – LINK – is yet another digital asset that suffered the negative consequences of the latest market correction. Its price is down nearly 8% in a week, currently hovering at the $14 mark.

According to some prominent analysts, though, the negative trend may soon be replaced by a rally. One example is the X user Ali Martinez, who claimed that the TD (Tom DeMark) Sequential “is flashing buy signal on the Chainlink 12-hour chart.” The trader believes LINK’s valuation could soar to $15.50 should it maintain above the major resistance level of $13.87.

TD Sequential is a technical indicator used primarily to identify the timing of market reversals. It was developed by Thomas DeMark and is popular among traders for its ability to provide signals based on the exhaustion of current price trends.

Michael van de Poppe is another analyst who  outlined  a bullish forecast for LINK. He thinks the token is among the top 5 altcoins that can generate a 3x increase in BTC “with the lowest amount of risk.” The other assets part of this club include Optimism (OP), WOO (WOO), Celestia (TIA), and SKALE (SKL).

Additional Bullish Forecasts

Crypto Wolf and SlumDOGE Millionaire have also recently  predicted  a bright future for LINK. The former added the asset to the list of “mooners” for the next bull cycle, while the latter argued it is one of the top “blue chip” cryptocurrencies at the moment.

Some on-chain metrics suggest a rally, too. According to CryptoQuant’s data, LINK exchange netflow has been predominantly negative in the past month, suggesting  a shift from centralized platforms toward self-custody methods. This is considered bullish since it reduces the immediate selling pressure.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
APR up to 10%. Always on, always earning.
Stake now!

You may also like

Analytics Firm Reveals 3 Cryptocurrencies Whose Mentions Exploded During Altcoin Rally

Cryptocurrency analysis company Santiment shared three altcoins whose mention rates have increased significantly in its statement.

Bitcoinsistemi2024/09/28 15:36