Altcoins
Chainlink (LINK) is the best Altcoin bet right now! Here because
After being caught in a market correction in recent weeks, Shirt (LINK) The price has established a solid support range between $12 and $13. The mid-cap altcoin, with a fully diluted valuation of around $15 billion, has rebounded more than 6% over the past two weeks, to settle at about $14.8 on Monday during the early New York session.
However, the continued regulatory crackdown on cryptocurrencies by the United States Securities and Exchange Commission (SEC) weighed significantly on bullish sentiments. In the latest update, the US SEC has released Robin Hood Markets with a warning from Wells regarding his cryptocurrency business.
Chainlink Price Turns Ahead of Big Turmoil
According to renowned crypto analyst Michaël van de Poppe, Chainlink price is currently preparing to reach a new all-time high (ATH) after a successful retest of a bullish breakout against the US dollar. The crypto analyst also pointed out that LINK price has retested its cyclical low versus Bitcoin (BTC) in recent weeks.
After LINK price successfully breaks out of horizontal consolidation in the coming weeks, Poppe believes the altcoin is well poised for a nearly 10x rally soon. Having formed a daily reversal pattern against the US dollar, LINK price must consistently close above $18 to defend rising momentum.
Why bet on LINK
The Chainlink network, through the Cross-Chain Interoperability Protocol (CCIP), has grown into a reputable web3 platform that enables seamless tokenization of real-world assets.
Chainlink’s Oracle datasets are used by dozens of web3 platforms such as AAVE and Synthetix, among others. Amazingly, the Chainlink network prides itself on over 10 trillion dollars worth of transactions enabled.
Also check: Chainlink Price Prediction 2024-2025: Will LINK Prices Reach $100 by 2025?