HomeNewsChainlink (LINK) Poised for Impressive Rallies Against Bitcoin, Predicts Crypto Analyst Michaël...

Chainlink (LINK) Poised for Impressive Rallies Against Bitcoin, Predicts Crypto Analyst Michaël van de Poppe

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  • Michaël van de Poppe sees potential for Chainlink (LINK) to rally against Bitcoin (BTC), with a possibility of reaching new highs.
  • The crypto analyst observes LINK’s shift from key resistance to support against Bitcoin, indicating a trend for more rallies.

Chainlink Set for Bullish Trajectory in Crypto Market, Suggests Expert Analysis

Renowned crypto analyst Michaël van de Poppe has identified significant upward potential for Chainlink (LINK) in its pairing with Bitcoin (BTC), pointing towards a possible strong performance in the upcoming period.

LINK/BTC Pair Showing Bullish Signs

  • Historical Context: Referencing Chainlink‘s performance in the 2019-2020 period, van de Poppe notes that LINK experienced substantial breakouts before Bitcoin’s halving, moving from $1.60 to $5. He anticipates a similar pattern could emerge, projecting a run from $6 to possibly $18 or $20, followed by a correction and another surge towards highs around $35.34.
  • Current Market Position: Van de Poppe observes that LINK is in the process of converting a significant resistance level into support against Bitcoin. This trend shift indicates that after a brief correction, more rallies are expected, as evidenced by the pattern of higher lows and higher highs in the LINK/BTC pair.

Understanding the Market Dynamics

The analysis by van de Poppe suggests a strategic window for investors to consider reallocating resources to Chainlink, particularly as it finds support in higher timeframe comparisons with Bitcoin. At the time of the report, LINK/BTC traded at 0.000358 BTC ($14.64).

Other Crypto Assets on the Radar

In addition to Chainlink, Michaël van de Poppe also sheds light on other cryptocurrencies showing promising trends:

  • Arbitrum (ARB): Highlighting a “massive bullish divergence,” the analyst suggests that Arbitrum could be on the cusp of a trend reversal against Bitcoin.
  • Optimism (OP): He also points out that Optimism (OP) appears to be gearing up for another significant move upward against Bitcoin.

As Chainlink continues to exhibit strength against Bitcoin, the crypto market keeps a keen eye on this notable digital currency, anticipating its next significant moves and implications for broader market dynamics.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628