Chainlink Price Prediction: Analyst Expects LINK Price to Nearly Double From Current Levels

The post Chainlink Price Prediction: Analyst Expects LINK Price to Nearly Double From Current Levels appeared first on Coinpedia Fintech News

The Chainlink (LINK) market continued to cool off on Monday following last week’s breakout, which resulted in huge liquidations and traded volume. According to the latest crypto market data, LINK traded around $7.7 during the mid-London trading session on Monday, down approximately 4 percent in the past 24 hours. However, crypto experts led by a popular Amsterdam-based analyst Michaël van de Poppe expect the LINK price action to hold around current levels before a rebound to set new highs for this year.

Chainlink (LINK) Price Analysis

The analyst highlighted that crypto traders could soon prepare to buy the dip as the short-term correction has approached crucial support levels. Moreover, the analyst is convinced LINK price could rally nearly 90 percent from current levels fueled by altcoin FOMO traders. With a target price of about $13.3, the analyst urged LINK traders to have their stop loss set around $7 to avoid further liquidation of the price revisits prior lows that went below the lower border of the macro accumulation range.

Such a trade could, however, require ultimate patience as the resistance level around $9.2 can result in a price correction before continuing with the bullish outlook.

Notably, LINK’s bullish outlook is heavily bolstered by the fundamental aspects and also the technical indicators. Moreover, the altcoin market has recorded increased gains with Bitcoin trading below $30k severally in the past few days.