Based

2024

Bitcoin

Chainlink

Chainlink (LINK) continues to remain among the headlines following a negative performance, which saw the token’s price decline by 7.63% in the last week based on <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="noopener nofollow">data from CoinMarketCap</a>. However, despite this discouraging price loss, investors and market experts appear to remain bullish on the altcoin. For instance, popular crypto analyst Michaël van de Poppe has recently released a price prediction that states LINK could double its market price in the coming months. 
<h2 id="strong-chainlink-link-poised-to-notch-122-gains-analyst-says-strong">Chainlink (LINK) Poised To Notch 122% Gains, Analyst Says</h2> 
In <a href="https://x.com/CryptoMichNL/status/1761031909210001571?s=20" target="_blank" rel="noopener nofollow">a Friday post on X,</a> Michaël van de Poppe presented a bullish case for Chainlink using the LINK/BTC 3-day chart. The analyst began his prediction by noting <a href="https://www.newsbtc.com/news/chainlink-takes-over-dogecoin-in-key-metric-as-mysterious-whale-pushes-link-upwards/" target="_blank" rel="noopener ">LINK’s positive stint</a> in the first two weeks of February, during which the token rose by 32.77% to trade above the $20 price mark. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Chainlink</a> had another leg upwards in their <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$BTC</a> pair towards the crucial resistance. 
 Failed to break out. 
 It’s looking for a higher low &amp; support and then a reversal towards 4500 sats again. 
 I think <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$LINK</a> is likely to run to $30-40 in the coming months. <a href="https://t.co/HtwHogdvsJ" rel="nofollow">pic.twitter.com/HtwHogdvsJ</a> 
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1761031909210001571?ref_src=twsrc%5Etfw" rel="nofollow">February 23, 2024</a>
</blockquote> 
However, despite this impressive price gain, the prominent altcoin failed to breach a crucial resistance zone at 0.00480 BTC, thus failing to initiate a breakout. Following this event, van de Poppe believes that Chainlink is now seeking a higher low to serve as its support level.&nbsp; For context, a higher low In technical analysis refers to a pattern on a price chart in which a successive low point in a trend is higher than the previous low point. It is usually interpreted as a bullish signal indicating a potential trend reversal or continuation of an upward trend.<img loading="lazy" decoding="async" class="alignnone size-large wp-image-576651" style="text-align: center" src="https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=860&amp;resize=860%2C449" alt="Chainlink" width="860" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=2274 2274w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=860&amp;resize=860%2C449 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/GHBcSF6XoAAbr-c.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
After successfully finding its higher low, van de Poppe anticipates LINK to experience a price reversal, gaining by 4,500 satoshis, which is currently valued at $2.29 at the current <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-bulls-on-the-charge-crypto-platform-forecasts-63k-surge-by-march/" target="_blank" rel="noopener ">Bitcoin price</a> of $50,761. Thus, Chainlink could soon return above the $20 mark. Furthermore, the analyst believes this price gain could lead to LINK finally initiating a breakout, hitting a price in the range of $30-$40 within the next few months. If this prediction proves true, the altcoin could experience a potential maximum gain of 122.71% on its present market price. 
<h2 id="strong-link-price-overview-strong">LINK Price Overview</h2> 
At press time, Chainlink continues to exchange hands at $17.96 with a 0.11% gain in the last day. Meanwhile, the token’s daily trading volume has experienced a slight decline of 0.70% and is now valued at $426.65 million. Based on market shares, Chainlink is ranked as the 12th largest cryptocurrency with a total market cap value of $10.55 billion. 
 <img loading="lazy" decoding="async" class="aligncenter size-large" src="https://www.tradingview.com/x/NFUUolKh/" alt="Chainlink" width="1480" height="893"> LINK trading at $17.944 on the daily chart | Source: <a href="https://www.tradingview.com/chart/xg17RJqK/" target="_blank" rel="noopener nofollow">LINKUSDT chart on Tradingview.com</a>

Analyst Forecasts $40 Target For Chainlink (LINK)

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