{"id":36428,"date":"2024-02-24T09:52:36","date_gmt":"2024-02-24T13:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36428"},"modified":"2024-02-24T09:52:36","modified_gmt":"2024-02-24T13:52:36","slug":"analyst-forecasts-40-target-for-chainlink-link","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/24\/analyst-forecasts-40-target-for-chainlink-link\/","title":{"rendered":"Analyst Forecasts $40 Target For Chainlink (LINK)"},"content":{"rendered":"

Chainlink (LINK) continues to remain among the headlines following a negative performance, which saw the token\u2019s price decline by 7.63% in the last week based on data from CoinMarketCap<\/a>. However, despite this discouraging price loss, investors and market experts appear to remain bullish on the altcoin. For instance, popular crypto analyst Micha\u00ebl van de Poppe has recently released a price prediction that states LINK could double its market price in the coming months.\n<\/p>\n

Chainlink (LINK) Poised To Notch 122% Gains, Analyst Says<\/strong><\/h2>\n

In a Friday post on X,<\/a> Micha\u00ebl van de Poppe presented a bullish case for Chainlink using the LINK\/BTC 3-day chart. The analyst began his prediction by noting LINK\u2019s positive stint<\/a> in the first two weeks of February, during which the token rose by 32.77% to trade above the $20 price mark.<\/p>\n

#Chainlink<\/a> had another leg upwards in their $BTC<\/a> pair towards the crucial resistance.<\/p>\n

Failed to break out.<\/p>\n

It\u2019s looking for a higher low & support and then a reversal towards 4500 sats again.<\/p>\n

I think $LINK<\/a> is likely to run to $30-40 in the coming months. pic.twitter.com\/HtwHogdvsJ<\/a><\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) February 23, 2024<\/a><\/p>\n

However, despite this impressive price gain, the prominent altcoin failed to breach a crucial resistance zone at 0.00480 BTC, thus failing to initiate a breakout. Following this event, van de Poppe believes that Chainlink is now seeking a higher low to serve as its support level.\u00a0 For context, a higher low In technical analysis refers to a pattern on a price chart in which a successive low point in a trend is higher than the previous low point. It is usually interpreted as a bullish signal indicating a potential trend reversal or continuation of an upward trend.<\/p>\n

After successfully finding its higher low, van de Poppe anticipates LINK to experience a price reversal, gaining by 4,500 satoshis, which is currently valued at $2.29 at the current Bitcoin price<\/a> of $50,761. Thus, Chainlink could soon return above the $20 mark. Furthermore, the analyst believes this price gain could lead to LINK finally initiating a breakout, hitting a price in the range of $30-$40 within the next few months. If this prediction proves true, the altcoin could experience a potential maximum gain of 122.71% on its present market price.\n<\/p>\n

LINK Price Overview<\/strong><\/h2>\n

At press time, Chainlink continues to exchange hands at $17.96 with a 0.11% gain in the last day. Meanwhile, the token\u2019s daily trading volume has experienced a slight decline of 0.70% and is now valued at $426.65 million. Based on market shares, Chainlink is ranked as the 12th largest cryptocurrency with a total market cap value of $10.55 billion.<\/p>\n\n

LINK trading at $17.944 on the daily chart | Source: LINKUSDT chart on Tradingview.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Chainlink (LINK) continues to remain among the headlines following a negative performance, which saw the token\u2019s price decline by 7.63% in the last week based on data from CoinMarketCap<\/a>. However, despite this discouraging price loss, investors and market experts appear to remain bullish on the altcoin. For instance, popular crypto analyst Micha\u00ebl van de Poppe has recently released a price prediction that states LINK could double its market price in the coming months.\n<\/p>\n

Chainlink (LINK) Poised To Notch 122% Gains, Analyst Says<\/strong><\/h2>\n

In a Friday post on X,<\/a> Micha\u00ebl van de Poppe presented a bullish case for Chainlink using the LINK\/BTC 3-day chart. The analyst began his prediction by noting LINK\u2019s positive stint<\/a> in the first two weeks of February, during which the token rose by 32.77% to trade above the $20 price mark.<\/p>\n

#Chainlink<\/a> had another leg upwards in their $BTC<\/a> pair towards the crucial resistance.<\/p>\n

Failed to break out.<\/p>\n

It\u2019s looking for a higher low & support and then a reversal towards 4500 sats again.<\/p>\n

I think $LINK<\/a> is likely to run to $30-40 in the coming months. pic.twitter.com\/HtwHogdvsJ<\/a><\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) February 23, 2024<\/a><\/p>\n

However, despite this impressive price gain, the prominent altcoin failed to breach a crucial resistance zone at 0.00480 BTC, thus failing to initiate a breakout. Following this event, van de Poppe believes that Chainlink is now seeking a higher low to serve as its support level.\u00a0 For context, a higher low In technical analysis refers to a pattern on a price chart in which a successive low point in a trend is higher than the previous low point. It is usually interpreted as a bullish signal indicating a potential trend reversal or continuation of an upward trend.<\/p>\n

After successfully finding its higher low, van de Poppe anticipates LINK to experience a price reversal, gaining by 4,500 satoshis, which is currently valued at $2.29 at the current Bitcoin price<\/a> of $50,761. Thus, Chainlink could soon return above the $20 mark. Furthermore, the analyst believes this price gain could lead to LINK finally initiating a breakout, hitting a price in the range of $30-$40 within the next few months. If this prediction proves true, the altcoin could experience a potential maximum gain of 122.71% on its present market price.\n<\/p>\n

LINK Price Overview<\/strong><\/h2>\n

At press time, Chainlink continues to exchange hands at $17.96 with a 0.11% gain in the last day. Meanwhile, the token\u2019s daily trading volume has experienced a slight decline of 0.70% and is now valued at $426.65 million. Based on market shares, Chainlink is ranked as the 12th largest cryptocurrency with a total market cap value of $10.55 billion.<\/p>\n

LINK trading at $17.944 on the daily chart | Source: LINKUSDT chart on Tradingview.com<\/a><\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36428","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36428"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36428\/revisions"}],"predecessor-version":[{"id":36432,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36428\/revisions\/36432"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36428"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}