Chainlink (LINK) has been under scrutiny as market analysts predict a potential upswing. With its current price at $15.79, the token has experienced a decline. However, top crypto analysts, Michaël van de Poppe and Crypto Tony, offer insights suggesting a positive outlook for LINK.
Chainlink (LINK) is priced at $15.79 with a daily trading volume of $281,096,465.63. Over the past day the price has declined by 1.05%, and in the past seven days, it has seen a 13.36% drop. Despite this downward trend, some experts believe this may present a buying opportunity.
Chainlink (LINK) Price Analysis
Michaël van de Poppe, a figure in the crypto community, views Chainlink as heavily undervalued. He believes the current market conditions present a final ‘easy’ opportunity to invest in altcoins like LINK.
According to van de Poppe, historical trends indicate that the rotation into altcoins typically begins in June, and Chainlink has previously provided returns of up to 150% during such periods.
“Chainlink is heavily undervalued at this point. Expecting that we’re at the cycle low and looking at the final ‘easy’ moment to be stepping into these altcoins,” van de Poppe stated.
Crypto Tony, another influential analyst, offers a more cautious yet optimistic outlook. He mentions that he plans to reduce his long-term position in LINK at the $35.00 mark, suggesting a potential price increase. Currently, he observes that the token remains within a trading range.
“$LINK / $USD – Update I will be shedding some of my long-term position at $35.00 if we get there. For now, we remain to range,” Crypto Tony noted.
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Show more +Show less – Future Prospects for Chainlink
The insights from both analysts suggest that Chainlink could be poised for a rebound. Historical performance during similar market cycles supports this view, indicating potential substantial returns. Additionally, the current undervaluation might attract more investors, fueling a price surge.
Despite the recent decline in Chainlink’s price, analysts see potential for a rebound. Michaël van de Poppe highlights the undervaluation and historical trends favoring altcoins like LINK. Meanwhile, Crypto Tony plans strategic selling at higher price points, indicating confidence in future gains.
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