Investors Believe LINK Is Set for a Price Continuation
Michael van de Poppe, the CEO, and founder of Eight Global, tweeted that he believes Chainlink (LINK) looks ready for a continuation.
This could be confirmed by the fact that Chainlink is integrating staking later this year. The development could potentially increase investor appetite as well as attract more long-term holders. This could be amplified by the fact that Chainlink has a very exciting roadmap for 2022 that could generate growth and efficiency in the project.
Some investors, like van de Poppe, believe there are big things ahead for LINK. Some speculators even think that LINK could reach $100 by 2025.
LINK is currently in the green and is trading at $6.91 after a 0.98% increase in price over the last 24 hours. The crypto also saw a 6.63% increase over the last seven days, which could confirm the continuation theory.
On the other hand, it is still important to note that LINK has almost constantly been in a downtrend, breaking through critical support levels. The relative strength index on the weekly time frame has also seen record lows. Chainlink has also recently experienced continuous rejections of the 20-day moving average on the daily charts.
If LINK’s price were to retest the $5.29 support levels, it could lead to a swing low to the next level at $5.10. However, if there is a bullish reversal in the market, LINK can see an impulse wave to around $8.60 – $9.30.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.
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