Chainlink is quite a buzzword in cryptocurrency land. Well-known expert Michael Van De Poppe has described it as a “lifelong opportunity.” The cryptocurrency has the ability to offer decentralized data transfers. Now it indicates that it could form an upward price pattern.
#Chainlink still consolidating above crucial resistance and turning it around for support.
I think anything between $9 and 11 is interesting to buy.
I’ve mentioned it a few times, but it remains the opportunity of a lifetime. pic.twitter.com/3vCTTiYsAe
— Michaël van de Poppe (@CryptoMichNL) October 4, 2024
Chain link is on the rise in conjunction with other major altcoins, as shown in a recent analysis by Santiment. This growth is driven by strategic developments and increasing institutional interest. Moreover, LINK’s price forecast indicates robust growth, with an expected increase of 28.06% in the next three months and an increase of 182.16% in the next six months. Currency control shows.
🗣️ The most popular tokens in crypto have some household names as altcoins rebound with new and interesting developments on the way…
🥇 1) XRP $XRP: Traders are excited about the ETP Bitwise application. Also important conversations surrounding the SEC’s appeal against a ruling that classified XRP… pic.twitter.com/GfqGL3RBtc
— Santiment (@santimentfeed) October 4, 2024
With a market capitalization of approximately $7 billion, LINK is the 14th largest cryptocurrency at the time of writing. The fact that it is currently trading at $208 million shows that buyers are still interested in a piece of the crypto asset. According to Van De Poppe’s research, the token behaved bullishly on the weekly chart, much to the delight of investors.
LINK market cap currently at $7.06 billion. Chart: TradingView.com
Positive assessment by LINK analysts
Van De Poppe noted a consolidation above a critical resistance level after examining Chainlink’s price fluctuations. He believes this signals a possible shift towards support, which could potentially lead to additional gains. De Poppe considers the $9 to $11 range to be the best purchasing opportunity; his prediction is that the price will rise to $35.29 in the medium term. This sets the stage for LINK to challenge its all-time high (ATH) of $52.88.
Van De Poppe reiterated that this period of accumulation could result in substantial growth, despite LINK’s current price remaining below that elevated target. The future is promising for investors who own LINK if the token sticks to its historical patterns and broader market sentiment continues to improve.
Chainlink positioning
Chainlink is optimistic due to the growing involvement of the blockchain ecosystem and technical analysis. Successful CCIP testing and SWIFT collaboration have increased the value of the token. Financial companies and others use CCIP to send data between blockchains.
Chainlink (LINK) seen soaring in price. Source: CoinCheckup
Recent data from Santiment shows that Chainlink’s strategic moves are now gaining momentum within the market. As more and more institutional investors take a closer look at LINK, this lends credence to the idea that this token could experience unstoppable growth in the future.
LINK Price prediction
Recently, LINK is expected to become a increase of 28.06% within the next three months, while it could potentially increase by 182.16% within the next six months. Analysts believe that its value will increase by 142.33% in the coming year, as shown by figures from Coincheckup.
Featured image from MakeUseOf, chart from TradingView