Trader Forecasts Chainlink to Surge Over 60% and Updates DeFi Altcoin Outlook with 6x YTD Growth

Prominent Crypto Trader Bullish on Chainlink (LINK) - Expects Strong Surge After Extended Accumulation Period.

Crypto Analyst Michaël van de Poppe Predicts Chainlink (LINK) Could Surge Over 50% in New Video Session

In a recent strategy session, renowned crypto analyst Michaël van de Poppe shares his optimistic outlook on the decentralized oracle network Chainlink. With a substantial YouTube following of 162,000 subscribers, van de Poppe believes that Chainlink, currently trading at $7.22, could experience a significant increase of more than 50% from its current value.

Van de Poppe observes that Chainlink has been trading within a range of $5 to $9.50 for approximately 450 days, resulting in a consolidation phase. He anticipates LINK to dip further, creating a bullish higher-low setup, which could potentially ignite strong rallies.

He emphasizes the importance of the $6.75 price level for long positions, projecting a potential rally towards $11.

Apart from Chainlink, the analyst is closely monitoring the decentralized finance (DeFi) derivatives exchange Injective (INJ). Van de Poppe identifies two potential buy-the-dip scenarios for INJ. The range low at $5.40 serves as an entry zone, and he suggests that a sweep to this level could trigger long positions. Additionally, the area between $5.40 and $7 provides another entry point on higher timeframe perspectives.

According to van de Poppe, the flip of the resistance at $10 on INJ charts may signal a continuation, possibly leading to a rise past $14.

Source: Michaël van de Poppe/YouTube

At the time of writing, Injective is trading at $8.17, indicating an impressive 543% surge since its January 2023 opening price of $1.27.

Aug 04, 2023

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