Chainlink, Bitcoin, Ethereum Rally Predicted by Trader

Trader Michaël van de Poppe has expressed optimism about the decentralized oracle network Chainlink (LINK), suggesting that the cryptocurrency may be at the start of a new uptrend. Van de Poppe, who has a significant following on the social media platform X, noted that LINK is beginning to break out against Bitcoin (LINK/BTC) on the weekly chart. He predicts that LINK could rally to 0.0007950 BTC, which is equivalent to $69.15 at the time of writing. Currently, LINK/BTC is trading at 0.0001793 BTC, up 1.53% in the last 24 hours.

Van de Poppe's analysis indicates that the bull market for Chainlink has begun, with a potential upward movement in the near future. He also provided insights into Bitcoin's performance, stating that the cryptocurrency is holding an ascending trendline as support. According to his analysis, if Bitcoin can break through resistance at the $87,000 level, it may soon hit $94,000. At the time of writing, Bitcoin is trading at $86,903, showing no significant change for the day.

In addition to his predictions for Chainlink and Bitcoin, van de Poppe also shared his outlook on Ethereum (ETH). He anticipates that Ethereum will break through resistance at $2,090 and continue to rally beyond $2,150 after experiencing a drop into the $1,700 range earlier this month. Ethereum is currently trading at $2,005, with no significant change for the day.

Van de Poppe's analysis suggests a positive outlook for major cryptocurrencies, with potential upward movements in Chainlink, Bitcoin, and Ethereum. His predictions are based on technical analysis and market trends, providing insights into the potential future performance of these digital assets. However, it is important to note that cryptocurrency markets are highly volatile and unpredictable, and investors should conduct their own research and exercise caution when making investment decisions.