• Crypto Analyst Michaël van de Poppe predicts Chainlink (LINK) to surge by over 60% after an extended accumulation period.
• Van de Poppe is also keeping a close eye on the decentralized finance (DeFi) derivatives exchange Injective (INJ).
• The analyst believes that both LINK and INJ could experience significant rallies in the near future.
Chainlink Predicted To Surge By Over 60%
Crypto analyst Michaël van de Poppe has predicted that Chainlink (LINK) is primed for a big surge, with the altcoin set to increase by more than 50% from its current value. According to the analyst, Chainlink has been trading in a range between $5 and $9.50 for around 450 days and is now consolidating before it breaks out of this range and begins its rally.
Injective Seen As Potential Buy-the-Dip Scenario
Van de Poppe is also keeping an eye on decentralized finance (DeFi) derivatives exchange Injective (INJ). He believes that there are two potential buy-the-dip scenarios for INJ, with any dips between $5.40 and $7 being seen as entry points for investors looking to buy into the altcoin. Currently, INJ is trading at around $8.17, having increased by 543% since January 2023 when it opened at just $1.27 per token.
Range Trading Could Be Key For LINK
Van de Poppe has suggested that LINK could have a dip back down to create a bullish higher-low setup before it rallies again – potentially up towards the $11 mark – making range trading key for investors interested in buying into the coin at this point in time.
Long Term Bullish Outlook On DeFi Altcoins
The crypto analyst has expressed his long term bullish outlook on both LINK and INJ, suggesting that if they can successfully break out of their respective ranges then they could experience substantial rallies towards their all time highs in the coming months or even years.
Conclusion
Overall, Van de Poppe’s analysis suggests that now may be an opportune moment for investors to consider buying into LINK or INJ while they are still relatively cheap compared to their all time highs – something which could pay off significantly if these coins do indeed experience significant rallies over the longer term.