Crypto analyst Michaël van de Poppe recently expressed optimism regarding the performance of Chainlink’s price. Van de Poppe highlighted the awakening of Oracles, indicating a positive trend for Chainlink. He emphasized his bullish sentiment, stating, “I think that $LINK is going to do well.” Additionally, he anticipates that $API3 will likely follow a similar trajectory, suggesting a potential bullish trend for both cryptocurrencies.
In addition, Van de Poppe suggested that investors may consider a slow accumulation strategy given that Chainlink has declined by 20% from its recent peak. By doing so, it would be possible to profit from future price increases while lowering risks associated with market volatility.
Further, he pointed out that Chainlink has recently passed $100 million for total value staked (TVS). This accomplishment further shows how highly regarded the currency is and its purpose within the blockchain ecosystem.
On February 26, Van de Poppe emphasized that LINK was in a consolidation phase, positioning itself for a higher low. He anticipated that the cryptocurrency had yet to move significantly upward, suggesting that the real momentum for $LINK was still ahead.
Van de Poppe pinpointed a key indicator for this anticipated move, stating that it would likely occur once Chainlink breaks above 4500 satoshis. This threshold represented a critical level at which the cryptocurrency could potentially experience a substantial increase in value.
Considering Chainlink’s recent correction of 20% against Bitcoin, Van de Poppe suggested that the current period presented an opportune time to accumulate holdings in the cryptocurrency. This strategy aligns with capitalizing on potential future gains while leveraging the lower price point resulting from the recent correction.
Chainlink (LINK) Short-term Price Forecast
At the time of writing, LINK’s price is exchanging hands at $ 19.55 with a 24-hour trading volume of $ 1.02B and a market cap of $ 11.48B. The LINK price increased 1.43% in the last 24 hours, while LINK experienced a 6% surge in the weekly chart.
Based on the latest analysis by Changelly, it is anticipated that the price of Chainlink (LINK) will experience a notable uptrend, with an expected increase of 7.96%, projecting to reach a value of $20.61 by February 29th.
Changelly’s examination of technical indicators reveals a robust 93% bullish sentiment within the Chainlink market. This optimistic outlook is further supported by the Fear & Greed Index, which currently stands at 79, indicating a state of extreme greed among investors.
These combined signals suggest a strong positive momentum for Chainlink, with favorable market conditions likely to fuel further price appreciation in the near term.