
The post Chainlink (LINK) Gains Momentum and Eyes Breakout Amidst Positive Fundamentals appeared first on Coinpedia Fintech News
The Chainlink (LINK) army has been accumulating in a horizontal range since May last year without a clear breakout. However, recent developments in the altcoin market, triggered by the XRP case last week, have experts believing that Chainlink’s price could secure a breakout in the coming months.
The LINK ecosystem has seen significant positive developments, with numerous DeFi protocols integrating their systems with Chainlink’s price feed oracles. This integration has become almost essential for the launch of any new DeFi protocol, further strengthening the Chainlink ecosystem. Additionally, the decentralized data node operators within the Chainlink network contribute to the secure and scalable provision of independent data.
The daily trading volume also surged by approximately 187% in the past 24 hours, reaching around $562 million. Respected crypto analyst Michael van de Poppe believes that these bullish indicators will sustain in the near future, projecting an expansion of LINK’s price towards $15 after a recent forced liquidation below the lower consolidation range border.
On the daily time frame, the LINK price finds support from the 50 and 200 moving averages, which have served as crucial levels. This support further reinforces the analyst’s expectation that Chainlink (LINK) could easily rally beyond $9.5 if Bitcoin’s price drops below $30k in the coming weeks.
With the accumulation of positive fundamentals and integration with numerous DeFi protocols, Chainlink (LINK) is poised for a potential breakout after a long horizontal range. Crypto analyst Michael van de Poppe predicts a bullish outlook for LINK, projecting a price expansion toward $15.
Furthermore, the technical analysis reveals significant support levels for LINK, providing further confidence in its upward potential. As the altcoin market gains momentum, Chainlink’s performance is worth monitoring for potential investment opportunities.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks