Cryptocurrency analyst and trader Ali Martinez says blockchain oracle Chainlink (LINK) has upside potential based on the readings of certain indicators.
martinez To tell His 60,600 followers on social media platform
The TD Sequential Indicator is a technical analysis tool that is typically used to identify potential price reversal points following trend exhaustion.
According to Martinez, if key support areas hold, LINK could move up about 12% from current levels.
“If LINK breaks above the support at $13.87, we could see a strong rebound towards $15.50.”
At the time of writing, Chainlink is trading at $13.90.
While Martinez is bullish on Chainlink in the short term, fellow pseudonymous analyst Altcoin Sherpa recently expressed concern about Link's failure to witness a massive rally despite having been building on its foundation for over a year. expressed.
“What's scary is that many altcoins haven't been operating that intensely over the past few months. Look at coins like LINK. Even after accumulating for over 500 days, you've only made a 3x to 4x profit (depending on where you entered) and the price is now significantly lower. ”
LINK has rebounded from less than $5 in June 2023 to a high of around $22 last month.
Turning to Bitcoin (BTC), Mr. Martinez To tell The whale seems to have been sleeping since mid-March.
“Since March 14th, there has been a noticeable drop in Bitcoin whale activity. A surge in whale trading could be the catalyst that pushes BTC prices higher!”
At the time of this writing, BTC is trading at $63,575.
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