Chainlink’s native cryptocurrency, LINK, is showing signs of a potential rebound from its current price of $14, as indicated by a positive TD Sequential buy signal. Prominent analysts are forecasting significant returns for the asset, supported by favorable on-chain metrics suggesting a bullish move.
Despite a recent 8% drop in price, analysts like Ali Martinez and Michael van de Poppe are optimistic about LINK’s future. Martinez believes that the TD Sequential buy signal on the 12-hour chart could push LINK’s valuation to $15.50 if it maintains above the major resistance level of $13.87. Van de Poppe also sees LINK as one of the top 5 altcoins with the potential to generate a 3x increase in BTC with low risk.
Other analysts, such as Crypto Wolf and SlumDOGE Millionaire, have also made bullish predictions for LINK, with some even labeling it as a top “blue chip” cryptocurrency. On-chain metrics, like LINK exchange netflow data from CryptoQuant, further support the bullish outlook by showing a shift from centralized platforms to self-custody methods, reducing immediate selling pressure.
With positive signals from both technical indicators and on-chain metrics, Chainlink’s LINK may be gearing up for a bull run in the near future. Investors and traders are keeping a close eye on the asset as it looks to make a comeback from recent price dips.
