Crypto Analyst Forecasts Chainlink Price Surge Over 20%, Updates Dogecoin Prediction

Crypto analyst Rekt Capital predicts over 20% rally ahead for Chainlink as decentralized oracle recovers, also updates forecast for Dogecoin price breakout.

Crypto analyst Rekt Capital observes Chainlink's price recently respected its range-high resistance after surging in July. LINK then dropped to around $5.76 on September 11th near key range-low support. With LINK gaining nearly 18% off that low to current $6.79, Rekt Capital expects a retest of range-high resistance around $8.186. This would represent an additional rally of 20.5% from current levels. Rekt Capital relayed the Chainlink price analysis and forecast to his 352,300 followers on social media. He sees bullish momentum allowing LINK to revisit key overhead resistance.

Source: Rekt Capital/X

Crypto analyst Rekt Capital also examined Dogecoin's recent price action. He notes DOGE respected channel resistance in July and August when hitting highs of $0.082 before plunging 23.7%. However, DOGE is now holding the channel bottom as support around $0.0623. Rekt Capital says Dogecoin's main market structure remains intact for now. He shared the DOGE technical analysis with his Twitter following, suggesting the leading meme coin is primed for a breakout despite recent consolidation.

Source: Rekt Capital/X

Analyzing Bitcoin, the crypto analyst says BTC remains in an early bull market long-term. However, he cautions a potential final major correction over the next 7 months, similar to previous cycles in 2019 and 2015. While Bitcoin's multi-year outlook looks bullish, the trader warns traders should ready themselves for one more potential mid-term move lower. He advised his social media followers to take a prudent approach amid Bitcoin's early bull phase.

Source: Rekt Capital/X

Bitcoin is trading around $26,736 currently according to the crypto analyst, who despite a long-term bullish outlook warned traders to ready for potential interim volatility similar to past Bitcoin bull markets.

Sep 20, 2023

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