2024

Candle

when

Chainlink

<p>The post <a href="https://coinpedia.org/news/prominent-crypto-analyst-hints-150-price-surge-for-chainlink-link-but/">Chainlink (LINK) Price Dips, But Analyst Bullish on 150% Rally</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto market has been tough for Chainlink (LINK) this month, with its value dropping by more than 5% today. Despite being one of the top 15 cryptos with a market cap of $8.13 billion, LINK’s price has struggled to reach its all-time high of $52.88.&nbsp;</p> 
<p>However, prominent crypto analyst Michael van de Poppe has pointed out a potential 150% rally ahead for Chainlink in the second half of the year, highlighting the formation of the bullish candle.</p> 
<h2 class="wp-block-heading" id="h-formation-of-bullish-weekly-candle">Formation of Bullish Weekly Candle</h2> 
<p>In a recent tweet, Van de Pop <a href="https://x.com/CryptoMichNL/status/1804107005939884401">pointed out that</a> historically, May or June tends to mark the creation of the bottom for LINK. This prediction suggests a potential turning point for LINK’s value, signaling a shift towards a bullish trend in the coming months.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> makes a very decent weekly candle on the cycle low.<br><br>Again, the bottom will likely be created in May or June.<br><br>A similar price pattern occurred in previous years, resulting in a 150% rally in the year's second half.<br><br>I'm expecting the same. <a href="https://t.co/KvVZLQ93Yo">pic.twitter.com/KvVZLQ93Yo</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1804107005939884401?ref_src=twsrc%5Etfw">June 21, 2024</a>
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<p>Drawing parallels to previous years’ price patterns, van de Pop noted a similar price pattern that resulted in a significant rally of up to 150% in the second half of the year.&nbsp;</p> 
<p>Historically, when Chainlink (LINK) hits a low point in its cycle, it tends to follow with a strong upward trend This trend has consistently resulted in significant gains for LINK investors.</p> 
<h2 class="wp-block-heading" id="h-what-s-next-for-chainlink">What’s Next for Chainlink?</h2> 
<p>Following a notable token unlock event, Chainlink’s price experienced a dip today. The recent report revealed the unlocking of 21 million LINK tokens, valued at approximately $295 million, from non-circulating supply contracts.</p> 
<p>This unlock has not only increased the circulating supply but also triggered speculation among investors. As of now, the <a href="https://markets.coinpedia.org/chainlink/">LINK price is down 5%</a>, trading at $13.26, with a trading volume increase of 22% to $320.884 million. Despite the dip, Chainlink’s Open Interest (OI) rose by 1.74% to $179.02 million.</p>

Chainlink (LINK) Price Dips, But Analyst Bullish on 150% Rally

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