Van de Poppe Sees Chainlink Soaring to $11 After Breaking $10 Resistance

Crypto analyst Michaël van de Poppe believes that Chainlink has broken through key resistance levels and is now poised for further gains. According to Van de Poppe, Chainlink's recent price action indicates that the bear market is over, with the token now targeting $11.

The LINK token has swept past the $10 level, which Van de Poppe had previously identified as a key resistance point. The analyst notes that the 4-hour chart shows Chainlink trading above the upper Bollinger resistance at $9.95, while the RSI(14) indicator is flashing overbought conditions at 78.83.

Despite this, Van de Poppe remains bullish on Chainlink's prospects, citing the MACD golden cross and the token's ability to hold above both the EMA50 at $9.26 and the EMA200 at $8.62. The analyst expects a healthy retracement toward the 50-EMA support before continuation toward the $11 target.