LINK analysts predict there’s more to come after the recent 15% surge and embarked a strong recovery in the past day after plunging over 50% as we reported in the latest Chainlink crypto news.
The coin is now trading up by 15% in the past 24 hours meaning that it’s on the verge of reclaiming the $10 support level. LINK’s recovery came after bitcoin underwent a strong bounce after dipping under the $10,200 price level on Wednesday. BTC now trades at $10,700 at the time when the article was written which is just about 5% above these lows levels.
LINK could have further to surge after gaining about 15% in the past 24 hours according to the top analysts. The LINK analysts predict another surge soon as one historically accurate analyst that predicted Bitcoin will undergo a V-shaped reversal in the middle of March’s crash recently said that the cryptocurrency is primed to return towards its all-time high saying:
“Stinkbids on $LINK at $8-9 and accumulating some now around $10. Invalidation if price starts fucking around below stinkbids & will build more size if trend confirms. I think this is going to $28-32 on the next run. $BTC pair also looks ready to turn around soonish.”
This sentiment was echoed by other analysts in the space. Edward “Teddy” Cleps echoed the optimism sharing charts where it is pointed that the ongoing LINK rally is the coin defending a crucial technical level. The charts suggest that since LINK held the support of $7.90 and the $8.00 which could be cleared to rally towards the $13 level above which the coin could claim the level again. Bitcoin’s price action is likely to dictate the price action of the altcoins that are moving forward. While the correlation with BTC is not perfect, the number one cryptocurrency should lead to all the altcoins.
Bitcoin remains in no man’s land as it was noted by analysts and the cryptocurrency failed to secure the $11,000 as support but remains above the $10,000 where a number of corrections stopped over the past three weeks. Bitcoin established a direction from where it is likely to establish the overall direction.
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