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TL;DR
- Chainlink’s LINK is poised to rebound from its current price of $14, indicated by a positive TD sequential buy signal.
- Prominent analysts are forecasting strong returns for the asset, supported by favorable on-chain metrics suggesting bullish movement.
LINK Price Forecast
Chainlink’s native cryptocurrency – LINK – is another digital asset that has suffered negative consequences from the latest market correction. Its price is down almost 8% in a week, currently hovering around $14.
According to some eminent analystsHowever, the negative trend may soon be replaced by a rally. An example is user X Ali Martinez, who claims that the TD (Tom DeMark) Sequential is “flashing a buy signal on the Chainlink 12-hour chart.” The trader believes that LINK's valuation could rise as high as $15.50 if it holds above the major resistance level of $13.87.
TD Sequential is a technical indicator used primarily to identify the timing of market reversals. It was developed by Thomas DeMark and is popular among traders for its ability to provide signals based on the exhaustion of current price trends.
Michael van de Poppe is another analyst who describe a bullish forecast for LINK. He believes the token is among the top 5 altcoins capable of generating a 3x increase in BTC “with the lowest risk.” Other assets part of this club include Optimism (OP), WOO (WOO), Celestia (TIA) and SKALE (SKL).
Additional Bullish Forecasts
Crypto Wolf and SlumDOGE Millionaire also recently predicted a bright future for LINK. The former added the asset to the list of “mooners” for the next bull cycle, while the latter argued that it is currently one of the leading “blue chip” cryptocurrencies.
Some on-chain metrics suggest a rally too. According to data from CryptoQuant, LINK Exchange net flow has been mostly negative over the past month, suggesting a shift from centralized platforms to self-custody methods. This is considered bullish because it reduces immediate selling pressure.
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