The community for Chainlink (LINK) has hope due to Alan Santana, a famous cryptocurrency expert, who says that the token may soar in the subsequent few months. Although there are some negative signs as we speak, Santana believes that LINK’s price will go up quite a bit through the next bull market, possibly hitting an all-time high.
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Santana’s prognosis is hinged on LINK’s key acquisition period, which preceded the 2021 bull market. He calls 2023 a “recovery 12 months,” with quite a few cryptocurrencies tallying decent price gains but not a bull market. The analyst predicts a “huge” bull run by 2025 that would push LINK above $135.
On the time of writing, LINK was trading at $10.60, up 6.1% within the last 24 hours, but sustained a 15.4% drop within the weekly frame, data from Coingecko shows.
✴️ ChainLink Pre-2025 Bull-Market Accumulation Zone & Strategy
Hello my dear friend,
Notice the large difference between the bullish wave in 2021 vs the bullish wave in 2023!
This is the reason I dubbed 2023 the “recovery 12 months.” Last 12 months many Altcoins produced a pleasant wave, a recovery… pic.twitter.com/DTF977g5yT
— Alan Santana (@lamatrades1111) August 8, 2024
Current Market Conditions
Despite the indisputable fact that Santana is hopeful concerning the future, the current state of the market indicates that this just isn’t the case. Compared to yesterday, the value has decreased by 3.44%, and it’s now trading at $10.04.
The 50-day and 100-day Exponential Moving Averages (EMAs) are currently coming up at $13.072 and $14.071, respectively, which suggests that technical indicators point to a significantly more bearish situation than the present price.
Analyst Advocates ‘Buy And Hold’ Approach
In light of those contradictory signals, Santana has really helpful a “buy and hold” technique to LINK investors. In times of market depression and uncertainty, he suggests, it’s the proper time to start out, as he stresses patience above complex technical evaluation.
Chainlink market cap currently at $6.4 billion. Chart: TradingView
Santana claims that these are the times when long-term investors could protect their holdings before the market becomes euphoric and greedy.
This approach is very pertinent considering Santana’s forecast that the prolonged accumulation period for LINK will filter out short-term investors. Once the subsequent bull market starts, he thinks this screening process will set the stage for exponential expansion.
Source: CoinCheckup
Near-Term Trend Looking Up
More information comes from the crypto prediction platform CoinCheckup. It shows that LINK will go up soon. The platform says that there may very well be an enormous 89% growth in the subsequent six months, although the market price is 3.15 % lower than what it predicted would occur in the subsequent 30 days. This prediction relies on rising demand and positive developments within the Chainlink environment.
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Looking forward, CoinCheckup also projects an 87.57% increase for LINK over the subsequent 12 months, which reflects ongoing investor confidence as the broader crypto market develops. The underperformance within the short term, nevertheless, points to possible volatility—probably either from market swings or investor profit-taking.
Featured image from Pexels, chart from TradingView