TL;DR

Chainlink’s LINK is poised for a rebound from its current $14 price, indicated by a positive TD Sequential buy signal.
Prominent analysts forecast significant returns for the asset, supported by favorable on-chain metrics suggesting a bullish move.

LINK Price Predictions

Chainlink’s native cryptocurrency – LINK – is yet another digital asset that suffered the negative consequences of the latest market correction. Its price is down nearly 8% in a week, currently hovering at the $14 mark.

According to some prominent analysts, though, the negative trend may soon be replaced by a rally. One example is the X user Ali Martinez, who claimed that the TD (Tom DeMark) Sequential “is flashing buy signal on the Chainlink 12-hour chart.” The trader believes LINK’s valuation could soar to $15.50 should it maintain above the major resistance level of $13.87.

TD Sequential is a technical indicator used primarily to identify the timing of market reversals. It was developed by Thomas DeMark and is popular among traders for its ability to provide signals based on the exhaustion of current price trends.

Michael van de Poppe is another analyst who outlined a bullish forecast for LINK. He thinks the token is among the top 5 altcoins that can generate a 3x increase in BTC “with the lowest amount of risk.” The other assets part of this club include Optimism (OP), WOO (WOO), Celestia (TIA), and SKALE (SKL).

Additional Bullish Forecasts

Crypto Wolf and SlumDOGE Millionaire have also recently predicted a bright future for LINK. The former added the asset to the list of “mooners” for the next bull cycle, while the latter argued it is one of the top “blue chip” cryptocurrencies at the moment.

Some on-chain metrics suggest a rally, too. According to CryptoQuant’s data, LINK exchange netflow has been predominantly negative in the past month, suggesting a shift from centralized platforms toward self-custody methods. This is considered bullish since it reduces the immediate selling pressure.

LINK Exchange Netflow, Source: CryptoQuant

The post Chainlink Bull Run Incoming? Most Recent LINK Price Predictions appeared first on CryptoPotato.

---

Filed under: Bitcoin - @ May 2, 2024 8:13 pm