A widely followed crypto analyst believes one mid-cap altcoin may be setting the stage for a bullish breakout.
Crypto trader Michaël van de Poppe tells his 666,400 followers on the social media platform X that the blockchain oracle Chainlink (LINK) may break out against Bitcoin (BTC).
The trader says that although Chainlink has revisited the lower end of a trading range between $7.27 and $5.50, LINK may confirm an upward trend if it prints a higher low price against Bitcoin on the weekly timeframe.
Source: Michaël van de Poppe/X
According to the trader’s LINK/BTC chart, he is closely watching whether LINK can confirm the upward trend by staying above 0.000216 BTC ($5.57) after increasing to 0.000236 BTC ($6.08).
Source: Michaël van de Poppe/X
At time of writing, LINK/BTC is trading for 0.000241 BTC ($6.17).
According to the trader, the market has yet to price in Chainlink’s July launch of Cross-Chain Interoperability Protocol (CCIP). He says that CCIP is a huge boost for the ne
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