According to a popular crypto analyst, an Ethereum-based (ETH) altcoin is likely to take one last step down before doubling in price.
Crypto strategist Michaël van de Poppe tells his 668,000 followers on the social media platform
According to van de Poppe, 2024 should be a big year for Chainlink, with the price landing somewhere between $12 and $15.
“The final correction for Chainlink before we break out of this range.
The markets are still preparing for a major breakout, and if cycles materialize, 2024 will be a big year for LINK.
I expect some retests to be purchased around $7, ahead of $12-15. “
LINK Trading at $7.67 at the time of writing. An increase to Van de Poppe’s predicted price range would mean an increase of 56% to 95%.
The crypto trader goes further remark that while altcoins have undergone a substantial correction, Bitcoin (BTC) is consolidating. However, Van de Poppe expects that “trendy coins” will continue to show momentum despite the altcoin correction as long as BTC consolidates.
Finally Van de Poppe say that the top crypto asset by market cap could rise to $30,000 as long as it can successfully retest the $26,700-$26,900 range.
“There are very few levels of interest here for Bitcoin. Holding above $27,200 would be substantial for a continuation of the uptrend, but a retest at $26,700-26,900 is preferable before continuing the rally towards $30,000. The sentiment changed quite quickly.”
Bitcoin is trading at $27,426 at the time of writing.
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