A crypto analyst has highlighted the Chainlink's Remarkable Resilience amid market volatility, predicting that the cryptocurrency is preparing to witness a 300% surge against bitcoin-price-set-to-double/” rel=”nofollow”>bitcointhe largest cryptocurrency in the world.
Chainlink Poised for 300% Rise Against bitcoin
Chainlink, a decentralized blockchain oracle network has been gaining traction recently, fueled by innovative developments within its ecosystem. Popular crypto analyst Michael van de Poppe has expressed optimism about Chainlink's native token. LINKpredicting a major bullish rally for the cryptocurrency.
Related reading
Sharing a price chart showing Chainlink (LINK)/bitcoin (btc) price movements from 2021 to 2025, Poppe predicted in an x (formerly twitter) x.com/cryptomichnl/status/1795039747645346144?s=46″ rel=”nofollow”>mail That LINK is on track to witness an exponential rise between 150% and 300% against btc.
At the time of writing, the bitcoin-price-left-danger-zone/” rel=”nofollow”>bitcoin price It is trading at $67,623, according to CoinMarketCap. The cryptocurrency has fallen below key support levels around $70,000 and reflects a slight drop of 1.05% in the last 24 hours.
Poppe has revealed that he would not be surprised if Chainlink hits this price milestone, underscoring his confidence in the cryptocurrency price fundamentals and future potential compared to bitcoin. In chart analysis, the crypto analyst identified a critical resistance level for LINK/btc around $0.000448, indicating that this point could trigger Strong upside breakouts for Chainlink.
In a previous post, Poppe x.com/cryptomichnl/status/1795736335610941605?s=46″ rel=”nofollow”>identified Chainlink's next resistance zone is $21, predicting that the cryptocurrency could see its price trading between $25 and $30 in the coming months. For this to happen, the crypto analyst explained that Chainlink will have to set a higher low on the weekly time frame.
Poppe's optimistic view of Link of the chain It comes after the blockchain platform has entered into several strategic partnerships. Chainlink has collaborated with the circle, a peer-to-peer payments company, to expand developers' use of USDC and Euro Coin (EURC). Furthermore, the blockchain platform recently ally with SWIFTan interbank messaging system, to accelerate the adoption of distributed ledger technology (DLT).
These innovative developments may serve as a catalyst for a potential increase in the price of the cryptocurrency, driven by increased network utility and greater adoption by new users.
LINK Price update
Amid broader market conditions, Chainlink has been performing better than expected, experiencing constant price increase since the beginning of the year. Over the past month, Chainlink has risen by 45.01%, underscoring the growing demand and investor interest in the cryptocurrency.
Related reading
Data from CoinMarketCap also shows that Chainlink is up 3.32% in the last 24 hours and 7.79% over the past week. This bullish performance can be said to be attributed to Chainlink's continued activity. development initiatives in its ecosystem along with the recent approval of ethereum-etfs/” rel=”nofollow”>ethereum Spot ETF by the United States Securities and Exchange Commission (SEC).
At the time of writing, Chainlink price is trading at $18.53, reflecting a 14.86% 24-hour increase in its daily trading volume.
Featured image created with Dall.E, chart from Tradingview.com
