pwshub.com

Chainlink (LINK) On Track For $135 Surge By 2025 -- Analyst

The community for Chainlink (LINK) has hope thanks to Alan Santana, a famous cryptocurrency expert, who says that the token may soar in the next few months. Even though there are some negative signs as we speak, Santana believes that LINK’s price will go up a lot during the next bull market, possibly hitting an all-time high.

Santana’s prognosis is hinged on LINK’s key acquisition period, which preceded the 2021 bull market. He calls 2023 a “recovery year,” with numerous cryptocurrencies tallying decent price gains but not a bull market. The analyst predicts a “huge” bull run by 2025 that could push LINK above $135.

At the time of writing, LINK was trading at $10.60, up 6.1% in the last 24 hours, but sustained a 15.4% drop in the weekly frame, data from Coingecko shows.

✴️ ChainLink Pre-2025 Bull-Market Accumulation Zone & Strategy

Hello my dear friend,

Notice the huge difference between the bullish wave in 2021 vs the bullish wave in 2023!
This is why I dubbed 2023 the “recovery year.” Last year many Altcoins produced a nice wave, a recovery… pic.twitter.com/DTF977g5yT

— Alan Santana (@lamatrades1111) August 8, 2024

Current Market Conditions

Despite the fact that Santana is hopeful about the future, the present state of the market indicates that this is not the case. In comparison to the previous day, the price has decreased by 3.44%, and it is now trading at $10.04.

The 50-day and 100-day Exponential Moving Averages (EMAs) are currently coming up at $13.072 and $14.071, respectively, which suggests that technical indicators point to a significantly more bearish situation than the current price.

Analyst Advocates ‘Buy And Hold’ Approach

In light of these contradictory signals, Santana has recommended a “buy and hold” strategy to LINK investors. In times of market depression and uncertainty, he suggests, it is the perfect time to start, as he stresses patience above complex technical analysis.

Chainlink market cap currently at $6.4 billion. Chart: TradingView

Santana claims that these are the times when long-term investors could protect their holdings before the market becomes euphoric and greedy.

This approach is especially pertinent considering Santana’s forecast that the prolonged accumulation period for LINK will filter out short-term investors. Once the next bull market starts, he thinks this screening process will set the stage for exponential expansion.

Source: CoinCheckup

Near-Term Trend Looking Up

More information comes from the crypto prediction platform CoinCheckup. It shows that LINK will go up soon. The platform says that there could be a big 89% growth in the next six months, even though the market price is 3.15 % lower than what it predicted would happen in the next 30 days. This prediction is based on rising demand and positive developments in the Chainlink environment.

Looking forward, CoinCheckup also projects an 87.57% increase for LINK over the next year, which reflects ongoing investor confidence as the wider crypto market develops. The underperformance in the short term, however, points to possible volatility—probably either from market swings or investor profit-taking.

Featured image from Pexels, chart from TradingView

Source: newsbtc.com

Related stories
1 month ago - Chainlink (LINK) has made a sharp 20% recovery from the crash during the past day, as the network has seen a spike in address activity. Chainlink Has Returned Above $9.8 After Recovery Rally The cryptocurrency sector had opened the week...
5 days ago - Cardano has surged over 10%, breaking a key resistance level, and is now testing higher prices. Despite the bullish momentum, on-chain data reveals that long-term holders are beginning to take profits. The ratio of daily on-chain...
1 month ago - In the past few months, Grayscale has launched five different single-token trusts — near and stacks in May, and bittensor, sui and maker in August.
1 week ago - Chainlink is in a consolidation phase after weeks of volatility and selling pressure. The price currently holds above a support level of $10, a crucial liquidity level. The altcoin attracts the attention of analysts and investors who...
5 days ago - The surge in Bitcoin ETF inflows and price highlights growing investor confidence and potential market stabilization amid economic shifts. The post US Bitcoin ETFs see largest single-day inflow since late July, Bitcoin climbs past $60,000...
Other stories
12 minutes ago - After launching a Bitcoin yield ETP, Core wants to bring a similar product to the U.S. "as soon as regulatory frameworks allow it.”
30 minutes ago - Dogecoin could be gearing up for another major surge in price as the meme coin’s chart shows the formation of a major pattern. The Golden Cross pattern is a major bullish formation on a chart that usually precedes a notable rally for...
42 minutes ago - Bybit's support for Ethereum's Attackathon underscores the growing emphasis on security and innovation in the crypto industry. The post Bybit backs Ethereum’s first Attackathon with 75 ETH commitment appeared first on Crypto Briefing.
42 minutes ago - The arrests and asset freezes highlight the growing effectiveness of international cooperation in combating sophisticated crypto crimes. The post Massive $243 million crypto heist ends with multiple arrests and asset frozen appeared first...
42 minutes ago - Maestro's advanced features and broad network support could democratize crypto trading, making it more accessible and secure for a global audience. The post Maestro – Your one-stop solution for seamless crypto trading appeared first on...