Chainlink’s consolidation between $9 and $11 represents a once-in-a-lifetime opportunity before the price explodes, according to cryptocurrency analyst Michael.
Millions of cryptocurrency exist on the market, making it a $2.16 trillion sector. It handles transactions worth $62 billion in a day, too, so calling a particular cryptocurrency a once-in-a-lifetime chance is significant. According to well-known cryptocurrency expert Michael Van De Poppe, Chainlink (LINK) is responsible for that significant development.
With a $7 billion market valuation, LINK is the fourteenth-largest cryptocurrency available. Its $208 million transaction volume further suggests that there is some market interest for it. But as Michael predicts, there’s much more.
Chainlink Is An Opportunity of A Lifetime!!!
Michael, a well-known cryptocurrency analyst and trader, recently posted on X, endorsing LINK after drawing attention to the token’s bullish trend on a weekly basis. He makes it clear in this post that the “token is flipping that for support and consolidating above the crucial resistance.”
He went on to say that anything from $9 to $11 represents a good time to purchase before the token reaches its peak of $35.29. He predicted in this post that the price of LINK will reach a three-year high and then challenge the ATH of $52.88.
Additionally, it was made very evident by this crypto expert that he was restating his earlier assertions that this was a once-in-a-lifetime opportunity. Michael did not limit his analysis to the Chainlink price; he also examined the performance of the Bitcoin price, which may contribute to the rise of the former.
He stated in a related post that Bitcoin is bullish for the next twelve hours, which might help the other altcoins. The price of Bitcoin has increased by 1% after he made the tweets, which is encouraging considering that it had previously dropped to $60K. It is currently trading at $62,188.
How is the price of Chainlink doing right now?
On October 4, 2024, as LINK’s price was settling between $9–11, Michael published this prediction. But in the past day, the price has increased by 2.37%, making it worth $11.26 now, compared to $11.37 earlier in the day. However, this is not large enough, as the token is only recovering the 13% price collapse of this week.
Even on the technical charts, there is strong selling pressure among the holders, where the simple & exponential moving averages and MACD confirm this selling stress. Moreover, the RSI is neutral, indicating the continuity of this trend. Not to forget the Chainlink price has already failed to surge past the Pivot at $11.37, towards the resistance of $13.46, confirming the ongoing consolidation.
Because the price has grown bullishly in the last 24 hours despite the high selling pressure, it can grow further. A few technical indicators, like Momentum and Hull’s moving average, also hint at this possibility. However, if the selling pressure dominates, the price may fall further.
