Popular Analyst: Chainlink Could Rise At Lightning Speed If It Breaks This Level!
Coinputin.com – The popular altcoin Chainlink has been performing poorly in recent days. Bitcoin attracts investors with its enormous upward trend, while large altcoins such as Ethereum and LINK are underperforming. These cryptocurrencies are facing inflows of sales pressure while BTC is on the uptrend.
A popular analyst recently shared LINK’s forecast. LINK should close its price above $ 14.5, according to the analyst. The analyst notes that until this level is definitively broken upwards, it is not possible to determine the direction of the price. Where Link’s trend will be in the medium term will probably depend on Ethereum, as it has become a benchmark for the entire altcoin market. By the time ETH reaches the region above $ 600, consolidation looks likely, according to analysts.
Analyst: Chainlink could rocket to higher levels if it goes above that key level!
Chainlink trades horizontally at its current price of $ 13.8. These are the price levels at which altcoin has been trading over the past few days. But the cryptocurrency has risen significantly from its recent lows below $ 11 set earlier this week. But compared to Bitcoin, cryptocurrency still performs very poorly. In the medium term, where Link’s trend will be may depend largely on the key level of $ 14.
Whether chainlink can rise above this key level will likely depend primarily on Bitcoin. Because, according to analysts, a sustained parabolic rise could create a positive mood for altcoins. Popular analyst Cantering Clark shared his thoughts on where chainlink might be heading in the medium term. The analyst explained that $ 14.5 is a key level that needs to be broken to see more upside. If that level breaks in the near term, the analyst said he would make long-term investments in the cryptocurrency. Cantering Clarke adds::
If he can recover the level around $ 14.5, I’ll definitely try to invest a little more.