Renowned cryptocurrency analyst and strategist, Rekt Capital, stated that Chainlink (LINK) has entered the official bullish zone after months of sideways price movement. The analyst also expressed the view that the rise in Ocean Protocol (OCEAN) will continue.
Chainlink Breaks Through the “Depression Wall”
Experienced cryptocurrency analyst Rekt Capital, on his personal account on the social media platform X, stated that Chainlink, one of the leading altcoin projects, is currently in the middle of a long-term uptrend. The analyst noted that LINK has broken out of the consolidation zone it has been trapped in since May 2022, putting investors to the test of patience. He stated the following:
LINK has broken out of the macro downtrend. The movements of LINK within the macro range have come to an end, and a new macro uptrend has begun.
At the time of writing, LINK is trading at $13, with a 4.72% increase in the last 24 hours. According to the latest data, the altcoin’s price has increased by 12.97% in the last 7 days and by 70.67% in the last 30 days.
Analyst Expects Ocean Protocol’s OCEAN Climb to Continue
Rekt Capital also made a prediction that Ocean Protocol, a project aiming to enable users to access and monetize data using artificial intelligence, will continue its rise. According to the analyst, OCEAN seems ready to rise to $0.48 after closing the previous week above $0.40:
OCEAN successfully retested the green zone as a new support level this week. If it manages to hold above this green zone, OCEAN may revisit the red horizontal trend line around $0.48.
As of now, OCEAN is trading at $0.4172 with a 3.44% increase in the last 24 hours. Data indicates that the altcoin has seen an increase of nearly 40% in the last 30 days.
Furthermore, the analyst also closely monitors the OTHERS chart, which tracks the total market value of all altcoins. According to Rekt Capital, after breaking out of a downtrend formation that has been maintained for several months, OTHERS has started to rise, indicating an increase in risk appetite for altcoins.
