The post Chainlink (LINK) Price Dips, But Analyst Bullish on 150% Rally appeared on BitcoinEthereumNews.com.

The crypto market has been tough for Chainlink (LINK) this month, with its value dropping by more than 5% today. Despite being one of the top 15 cryptos with a market cap of $8.13 billion, LINK’s price has struggled to reach its all-time high of $52.88.  However, prominent crypto analyst Michael van de Poppe has pointed out a potential 150% rally ahead for Chainlink in the second half of the year, highlighting the formation of the bullish candle. Formation of Bullish Weekly Candle In a recent tweet, Van de Pop pointed out that historically, May or June tends to mark the creation of the bottom for LINK. This prediction suggests a potential turning point for LINK’s value, signaling a shift towards a bullish trend in the coming months. $LINK makes a very decent weekly candle on the cycle low. Again, the bottom will likely be created in May or June. A similar price pattern occurred in previous years, resulting in a 150% rally in the year’s second half. I’m expecting the same. pic.twitter.com/KvVZLQ93Yo — Michaël van de Poppe (@CryptoMichNL) June 21, 2024 Drawing parallels to previous years’ price patterns, van de Pop noted a similar price pattern that resulted in a significant rally of up to 150% in the second half of the year.  Historically, when Chainlink (LINK) hits a low point in its cycle, it tends to follow with a strong upward trend This trend has consistently resulted in significant gains for LINK investors. What’s Next for Chainlink? Following a notable token unlock event, Chainlink’s price experienced a dip today. The recent report revealed the unlocking of 21 million LINK tokens, valued at approximately $295 million, from non-circulating supply contracts. This unlock has not only increased the circulating supply but also triggered speculation among investors. As of now, the…

---

Filed under: News - @ June 23, 2024 12:08 am