Chainlink Gains Momentum as Valuations Remain Undervalued

Chainlink is gaining traction in the current market cycle, with trader Michaël van de Poppe highlighting its strong product-market fit and undervalued status. The protocol's growth potential appears significantly higher than its current valuation suggests.

At $13.99, the price of LINK is just below the EMA50 resistance level at $14.03, while the EMA200 at $13.03 provides long-term support. The MACD indicator shows a bullish golden cross at -0.06, though the broader trend remains bearish. The RSI stands at 48.14, indicating neutral momentum with room for further movement.

Trading within the Bollinger bands, LINK is eyeing the upper band at $14.32 as the next target. A pullback to the 50-EMA support zone could follow before any significant upward movement.