As a seasoned analyst with over two decades of experience in the financial markets, I have learned to navigate both bull and bear markets with a keen eye for opportunity. In the case of Chainlink (LINK), my perspective is guided by a mix of technical analysis, market trends, and insights from renowned experts like Alan Santana.
Optimism among Chainlink (LINK) supporters is growing due to predictions from well-known cryptocurrency analyst Alan Santana. Despite current unfavorable indications, Santana anticipates that LINK’s value will significantly increase during the upcoming bull market, potentially reaching a new record high.
As a researcher, I find the outlook for Santana significantly tied to the crucial acquisition phase LINK experienced prior to the 2021 bull market surge. The expert refers to 2023 as a “recovery year,” where various cryptocurrencies may see substantial price increases but not quite reach a full-blown bull market. However, the analyst anticipates an impressive and massive bull run by 2025 that could potentially drive LINK’s price above $135.
Currently, LINK is being transacted for approximately $10.60, marking a 6.1% increase over the past day. However, it has experienced a 15.4% decrease within the last week, as per data obtained from Coingecko.
ChainLink Pre-2025 Bull-Market Accumulation Zone & Strategy
Hello my dear friend,
Observe the significant disparity between the bullish trend in 2021 contrasted with the bullish trend in 2023! This is why I’ve coined 2023 as the “recovery year.” In 2022, many Altcoins showcased a pleasant surge, a recovery…
— Alan Santana (@lamatrades1111) August 8, 2024
Current Market Conditions
Although Santana remains optimistic about the future, current market conditions suggest otherwise. To be precise, in contrast to yesterday’s close, today’s price has dropped by 3.44%. At present, the stock is being traded at $10.04.
The 50-day and 100-day Exponential Moving Averages (EMAs) are presently at $13.072 and $14.071 respectively, implying that technical indicators suggest a much more bearish outlook than the current price might imply.
Analyst Advocates ‘Buy And Hold’ Approach
Given the mixed market indicators, Santana advises LINK investors to adopt a “purchase and maintain” approach. In periods of economic downturn and instability, he proposes that this could be an opportune moment to begin investing, emphasizing the importance of patience over intricate technical analysis.
Santana suggests that it’s a good time for long-term investors to secure their assets, as the market might soon reach a state of excessive excitement and greed.
Given Santana’s prediction of a lengthy accumulation phase for LINK, this strategy becomes particularly relevant. As the next bull run begins, he anticipates that this filtration process will pave the way for rapid growth.
Near-Term Trend Looking Up
According to the crypto forecasting platform CoinCheckup, there’s an indication that the value of LINK may increase shortly. The platform predicts a significant surge of approximately 89% over the next six months, despite the current market price being about 3.15% below its anticipated level for the next 30 days. This optimistic outlook is primarily based on growing interest and favorable advancements within the Chainlink ecosystem.
Moving forward, CoinCheckup anticipates a significant 87.57% rise in LINK‘s value within the next year, indicating sustained optimism among investors as the broader cryptocurrency sector matures. However, this coin’s underperformance in the short term might signal potential market turbulence – either due to price fluctuations or investor cashing out their profits.
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2024-08-09 20:11