Chainlink is quite a buzzword in the land of cryptocurrencies. Renowned expert Michael Van De Poppe described it as: “a chance of a lifetime.” The cryptocurrency boasts the ability to offer decentralized data transfers. Now he suggests this could create a pattern of rising prices.
#Chain continues to consolidate above key resistance and reverses it towards support.
I think anything between $9-11 is an engaging buy.
I’ve mentioned it a few times, but it’s still the opportunity of a lifetime. pic.twitter.com/3vCTTiYsAe
— Michaël van de Poppe (@CryptoMichNL) October 4, 2024
Chain link is gaining momentum when combined with other key altcoins, as shown by a recent analysis by Santiment. This growth is driven by strategic development and growing institutional interest. Moreover, LINK price forecast indicates forceful growth, with a projected boost of 28.06% in the next three months and 182.16% in the next six months, according to data from Checking coins can be seen.
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With a market capitalization of approximately $7 billion, LINK is the 14th largest cryptocurrency at the time of writing. The fact that it is currently valued at $208 million shows that buyers are still interested in owning some of this crypto asset. According to Van De Poppe’s research, to the delight of investors, the token was bullish on the weekly chart.
LINK market cap currently at $7.06 billion. Chart: TradingView.com
Positive rating from the LINK analyst
After examining Chainlink’s price fluctuations, Van De Poppe found consolidation above a critical resistance level. In his opinion, this indicates a potential change in the direction of support, which could potentially result in additional profits. De Poppe believes the $9 to $11 range is the best buying opportunity; his forecast is that the mid-term price will rise to $35.29. This provides the basis for LINK to break the all-time high (ATH) of $52.88.
Van De Poppe reiterated that this accumulation period could result in significant upside, despite the fact that LINK’s current price remains below this elevated target. The future looks promising for investors holding LINK if the token sticks to its historical patterns and broader market sentiment continues to improve.
Chain link positioning
Chainlink is positive due to the growing involvement of the blockchain ecosystem and technical analysis. Successful CCIP tests and SWIFT cooperation increased the value of the token. Financial and other companies utilize CCIP to transfer data between blockchains.
Chainlink (LINK) seen soaring in price. Source: CoinCheckup
The latest data from Santiment shows that Chainlink’s strategic moves are currently gaining more and more momentum in the market. With more and more institutional investors now looking at LINK, it lends credence to the notion that the token could experience unstoppable growth in the future.
LINK Price forecast
LINK is recently predicted to have boost by 28.06% over the next three months, with a potential boost of 182.16% over the next six months. Analysts believe that its value will boost by 142.33% over the next year, as indicated by Coincheckup data.
Featured image from MakeUseOf, chart from TradingView
