Chainlink Analyst Sees Breakout Targets at $11 and $15
Chainlink (LINK) has drawn fresh attention from analysts following Michaël van de Poppe's reiteration of his $6 target as 'the opportunity of a lifetime'. According to van de Poppe, Chainlink is exhibiting an upward breakout and massive bullish divergence across multiple timeframes.
The trader believes that the bottom for LINK is likely complete, with targets set at $11 within roughly one month and $15 shortly after. To reach these levels, Chainlink's price needs to overcome technical confluence on the 4-hour chart, where it currently sits at $8.64 testing upper Bollinger resistance.
Van de Poppe noted that RSI(14) is in overbought territory, printing a reading of 70.28, suggesting a healthy retracement toward the EMA50 support at $8.31 before continuation.