Chainlink (LINK) has recently emerged from a consolidation phase, generating optimism for a potential price surge towards $14 and beyond. This breakout suggests bullish momentum for the altcoin.
Analyst Michael van de Poppe predicts a strong rally fueled by the breakout above $13. This could lead to a 37% price increase to $17.83, boosting investor confidence in LINK's future.
Chainlink's momentum is supported by the Global In/Out of the Money indicator, showing that 120 million tokens may become profitable, further driving interest in the asset. This optimism aligns with van de Poppe's bullish outlook.
LINK's price has surged over 33% recently, now trading around $13.56. If it turns $14.45 resistance into support, it may approach targets like $17.83. This could make the $1.6 billion supply of LINK profitable.
However, failure to surpass $14.45 could see LINK retrace to support at $12.94. Losing this level might undermine bullish prospects, cautioning investors about potential market shifts.
