Chainlink Leaves Bear Market Behind as Analyst Sees Path to $11
Chainlink's (LINK) bear market has officially come to an end, according to analyst Michaël van de Poppe. The token's recent price action suggests that a bull market is underway, with LINK up 6.2% on the day to $9.35.
Van de Poppe points out that Chainlink has been making higher highs and higher lows across its chart, which he believes indicates a fresh macro uptrend rather than just a relief bounce.
The analyst's target for LINK is $11, which sits just above the first resistance band at $10.87. However, there are still potential obstacles to overcome before Chainlink can reach this price level, including a close back under the trendline near $8.70, which would break the structure entirely.
Meanwhile, Bitcoin (BTC) remains range-bound near $62,968, with little direction for traders. Van de Poppe recommends steady accumulation for a multi-year hold and notes that every push higher raises the odds that the bottom has already formed.