Ali Martinez, cryptocurrency trader and analyst Ali Martinez has said that Chainlink is a blockchain oracle (LINKThe readings of a single indicator indicate that ) has upside potential.
Martinez tells Tom DeMark Sequential indicator for his 60,600 social media followers is X. “flashing” On the 12-hour chart, LINK has a strong bullish indication.
The TD Sequential Indicator is a tool for technical analysis that helps identify possible price reversal levels, which typically occur after a trend has reached its exhaustion.
Martinez believes that LINK can increase from its current level by 12% if a critical support area is maintained.
“If LINK stays above the $13.87 support, we could see a strong rebound to $15.50.”
Chainlink was trading for $13.90 as of the time this article is written.
Altcoin sherpa is a fellow pseudonymous expert who has recently expressed similar views. While Martinez believes that Chainlink will be a success in the near term, Altcoin was bullish over this period. expressed Concerns about LINK’s inability, after building a strong base over a period of a year, to see massive rallies.
“The scary thing is that many altcoins didn’t even run that hard over the last few months. Look at coins like LINK. 500-plus days in accumulation and only a 3x – 4x gain (depending where you got in) and now price is strongly pulling back.”
LINK rose from below $5 per share in June 2023 up to a recent high of about $22 per share.
Bitcoin, the new currency (BTC), Martinez says Since mid-March, whales have appeared to be sleeping.
“Since March 14th, there’s been a noticeable dip in Bitcoin whale activity. A surge in whale transactions could be the spark needed to boost BTC prices!”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1714510505_414_Chainlink-LINK-Flashing-Potential-Rally-Signal-According-to-Crypto-Analyst.jpeg)
BTC currently trades for $63,575.
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