Many altcoins show bullish signals along with Bitcoin price chart despite market dip
Chainlink price chart shows bull flag signaling parabolic price pump.
Analyst says LINK price to $35-$40 by the end of August is high.
The crypto market experiences a sudden dump following the successful launch of ETH ETFs. As many crypto analysts suspected, the price of ETH dipped after its ETF launch, much like Bitcoin (BTC) price dipped after the BTC ETF launch.
While Bitcoin dipped by 20% after its ETF launch, ETH has only dropped by a significantly smaller amount. The reputed silver-tongued crypto analyst, Doctor Profit, expects ETH to not fall as much as BTC did and pump three times more than BTC’s pump due to their difference in market cap.
While BTC and ETH took a tumblr, altcoins are printing bullish signals. The greater crypto community awaits the long-anticipated arrival of the golden bull run phase, bringing with it the long-awaited altseason.
So far, it looks like altcoins too are presenting a similar eagerness to that of the global crypto community. Presently, many altcoins are mimicking Bitcoin’s chart pattern to signal massive bullish flags. One analyst says the Bitcoin chart has just printed a $178,000 price spike trajectory.
In the same line altcoins like WadzPay (WTK), VeChain (VET), JasmyCoin (JASMY), Cardano (ADA), and many other altcoins are showing bullish signs. In particular, one analyst highlights Chainlink (LINK).
#ChainLink #LINK $LINK produced a bull flag below the major supply zone around $17.4Generally it's a bullish sign and signals of the incoming breakout BullishCrypto Traders-join Telegram https://t.co/caOlZBzS3k … pic.twitter.com/Aqfxjm9N3D
— Whales_Crypto_Trading (@WHALES_CRYPTOx) July 24, 2024
As we can see from the post above, LINK has produced a bull flag below the major supply zone at around $17.4. The analyst explains that this bullish sign unusually signals an incoming breakout.
https://x.com/nicucrypto/status/1816104720894754916
Adding onto this narrative for a bullish LINK price spike is an analyst who noticed that LINK is trading in a falling wedge pattern which could lead to a bullish break towards the $35 price mark. The analyst expects to see the price of LINK at $35-$40 by the end of the month of August.
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The post $35 LINK Price Within Reach, Analyst Finds Parabolic Bull Flag Signal in Chainlink’s Price Chart appeared first on Crypto News Land.
