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A widely followed cryptocurrency analyst suggests that Chainlink is ready to rise after enduring a long accumulation period. With a 54% increase since the beginning of the year, what are the expectations for this cryptocurrency? A senior analyst provides critical insights.
Expectations for a Rally in LINK!
Expert cryptocurrency analyst Michael van de Poppe stated on YouTube that the decentralized cryptocurrency network Chainlink could increase by over 50% from its current value. According to the analyst, Chainlink traded between $5 and $9.50 for approximately 450 days and is now consolidating. He predicts that LINK will form a higher-low pattern before starting an upward movement. The cryptocurrency analyst stated the following:
The $6.75 region is a crucial area for long positions. And then, I assume we will run towards $11.
Chainlink is currently trading at $7.22, experiencing a 2.6% decrease in the last 24 hours at the time of writing this article.
INJ Coin Analysis!
Michael Van de Poppe also discusses the decentralized finance (DeFi) derivative exchange Injective (INJ). The expert suggests that there are two possible scenarios for buying the dip in this altcoin. The analyst stated the following:
We have seen a significant increase, making $10 a strong resistance level. So, what are we looking at right now? We are looking at a range around $5.40. It is an entry zone. The area we have at $7 is another entry point on a higher time frame. I think these are the dip zones, and the high at $10 also creates an argument for a continuation case that goes beyond $14.
Injective is currently trading at $8.17, experiencing a 543% increase from $1.27 in January 2023, at the time of writing this article.
Nec
Chainlink: “With a 543% increase since the beginning of the year…” WTH? It’s actually more like 54% and not even that as I’m writing.