Chainlink

Polygon

<p><strong>Date:</strong> Fri, Oct 11, 2024, 06:23 AM GMT</p><p>As Bitcoin bounces back from the $59,000 level and trades around $60,669, several altcoins are also showing promising signs of potential growth. Two standout tokens—Polygon (POL) and Chainlink (LINK)—have caught the attention of leading crypto analyst <a href="https://x.com/ZAYKCharts" rel="noopener noreferrer nofollow">ZaykCharts</a>, who suggests both could be poised for significant gains.</p><h3 id="polygon-pol-potential-for-a-breakout">Polygon (POL): Potential for a Breakout</h3><p>Polygon, recently <a href="https://coinsprobe.com/binance-has-completed-the-polygon-matic-token-upgrade-to-polygon-pol/" rel="noopener noreferrer nofollow">rebranded</a> from MATIC to POL following the Polygon 2.0 update, is currently trading at $0.3694. According to ZaykCharts, POL is moving within a falling wedge pattern on the 2-hour timeframe, a setup that often hints at a bullish breakout. The analyst predicts a potential breakout, with an 11% upside target that could push the price to $0.4160 if successful.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/4514de9a7dd5419bb6b1bc279fefd5c6.jpeg" />Credits: ZaykCharts</p><h3 id="chainlink-link-long-term-bullish-outlook">Chainlink (LINK): Long-Term Bullish Outlook</h3><p>Chainlink, trading at $10.65, has also caught ZaykCharts’ eye. He expressed strong confidence in LINK’s long-term potential, stating, &#34;$LINK will hit $40 … It&#39;s just a matter of time.&#34; His prediction is based on a descending wedge pattern seen on the weekly chart, which historically indicates a bullish breakout.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6259b7ca30db410e9fc2dedb106b4b0b.jpeg" /></p><p>With resistance at $40, LINK could potentially see a massive 229% gain from its current price if this breakout materializes. The growing use of Chainlink’s oracle technology across decentralized applications and its expanding partnerships could further fuel this long-term growth.</p><h3 id="strong-market-conditions-strong"><strong>Market Conditions</strong></h3><p>While Polygon and Chainlink are on the verge of potentially significant breakouts, Bitcoin’s movement will remain a crucial factor. Bitcoin’s stability around the $59K-$60K zone could help fuel momentum for POL and LINK. However, if BTC faces more bearish pressure, the volatility could affect the trajectories of these altcoins.</p><p><strong>Disclaimer:</strong> This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/top-3-tokens-on-the-verge-of-breakouts-people-storj-and-syn-in-focus/" rel="noopener noreferrer nofollow">Top 3 Tokens On The Verge of Breakouts: PEOPLE, STORJ, and SYN In Focus.</a></p>

Analysts Hint at Potential Upside for Polygon (POL) and Chainlink (LINK): Here’s Why

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