Analysts Warning: A Big Rise Expected for This Altcoin!

There are millions of cryptocurrencies in the crypto world. However, some of them stand out for investors. Analyst Michael Van De Poppe highlights a great opportunity for an altcoin. According to him, Chainlink is currently offering a buying opportunity before a significant price increase.

Is This Altcoin Really an Opportunity?

Michael Van De Poppe sees the current consolidation in Chainlink's price as an opportunity. On the weekly charts, Chainlink confirmed an important resistance as support. This sets the stage for an upward movement in price. Michael noted that purchases in the range of 9-11 dollars could lead to significant gains for investors. According to his estimates, LINK will rise to the level of 35 dollars. Additionally, this target suggests that the altcoin price may approach its previous peak of 52 dollars.

#Chainlink hala önemli direncin üstünde konsolide oluyor ve bunu destek için tersine çeviriyor.

I think anything between $9-11 is an interesting one to buy into.

I mentioned it a few times, but it remains to be an opportunity of a lifetime. pic.twitter.com/3vCTTiYsAe

— Michaël van de Poppe (@CryptoMichNL) October 4, 2024

Michael Van De Poppe, not only follows the price performance of altcoins, but also that of Bitcoin closely. A strong upward trend in Bitcoin's 12-hour timeframe may indicate that altcoins may also gain value. After Michael made these predictions, the price of Bitcoin increased by 1% and rose to levels of $62,000. This increase in Bitcoin could be a positive sign for altcoins and support the price of tokens like Chainlink.

What is the current price of popular altcoin Chainlink?

Michael Van De Poppe shared his prediction for Chainlink on October 4, 2024. On this date, the price of Chainlink was consolidating between $9 and $11. In the last 24 hours, the price of Chainlink increased by 2.37% to $11.37.

However, this increase was not enough to compensate for the token's 13% weekly decline. Still, this rise has created a positive sentiment in the market. Investors are hoping that the price could increase even further in the coming days.

Technical Analysis and Future Expectations of Chainlink

Looking at the technical indicators on the altcoin chart, there is still a strong selling pressure in the market. Moving averages and MACD indicators confirm this pressure. However, the RSI indicator remains at a neutral level, indicating that the trend may continue. Despite the recent rise in the last 24 hours, Chainlink price is still facing high selling pressure.

Some technical indicators such as Momentum and Hull Moving Average indicate that the price could rise further. However, if selling pressure continues to prevail, the price may fall again. As a result, Chainlink currently offers a great investment opportunity. According to analysts' predictions, further price increases are possible. As we reported at Kriptokoin.com, Bitcoin has a significant impact on the altcoin market. This impact could also support Chainlink's growth. However, it is important for investors to be cautious and monitor selling pressure.

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