Chainlink’s price continues to surge, with a significant 5% increase in the last 24 hours. This momentum has driven the cryptocurrency to achieve a monthly high of $18.82, indicating a bullish trend. Despite a slight pullback, Chainlink currently holds steady at $18.18, showcasing continued market strength.
Meanwhile, prominent crypto analyst Michaël van de Poppe has expressed optimism regarding Chainlink (LINK), proposing that its performance may serve as a pivotal indicator for a broader altcoin rally.
Key Support Level at $16
In a recent tweet, Van de Poppe pointed out the importance of the $16 support level for Chainlink. He noted that as long as Chainlink stays above this level, the cryptocurrency is likely to continue its upward trajectory toward yearly highs.
However, this level is seen as a pivotal point for sustaining the current momentum and achieving further gains.
Further into the analysis, Van de Poppe suggests that the performance of Chainlink could have significant implications for the altcoin market as a whole. If Chainlink continues its upward trajectory and maintains its critical support level, it could pave the way for a broader altcoin surge.
Chainlink To Surge 300% Surge
Earlier predictions by analyst Michaël van de Poppe suggest that Chainlink’s price could soar by 150% to 300% soon. Van de Poppe’s analysis indicates that Chainlink has recently breached a critical support level, signaling the potential for a robust bullish run.
With Chainlink demonstrating strong momentum and holding above key support levels, market sentiment remains optimistic. This anticipated surge is expected to drive Chainlink closer to, or even beyond, its previous all-time high, benefiting investors and traders alike.
During the 2021 bull run, Chainlink reached an all-time high of $52.88, representing a 65% increase from its current value. As of now, chainlink’s price is hovering at $18.65, with a market cap of $10.3 billion.
