- Crypto analyst makes predictions for Chainlink, and Solana as the market seeks to stage another rally.
- According to him, Chainlink would certainly match its January 2022 high in the next rally.
Chainlink (Link) is currently trading at $14.40 after surging by 1.5% in the last seven days. However, the asset has declined by 1.3% in the last 24 hours but has a bullish score of 71/100. Investors have also had a three-month return of 114.40% on investment.
According to pseudonymous analyst Bluntz, the eight-hour chart of the asset is showing multiple bullish reversal signals as Chainlink is expected to match its January 2022 high.
Ok LINK swept $13.9 onel final time and made the fifth wave down for C and beautiful high time frame bullish divergence as well. I believe this is a major wave four low now. $20 en route, RIP anyone who capitulated.
The analyst reportedly used the Elliott Wave theory to make this prediction. This theory makes use of crowd psychology that manifests in waves.
Bluntz also captured Solana in his prediction. According to him, this digital asset is building momentum to break out against Bitcoin. He also advised investors not to pay attention to the “bear posters.”
SOL/BTC trying to break this most recent bull flag after chilling for a few days. When this 37-day range breaks, SOL is going to gigasend. It will probably be the steepest leg yet. Don’t listen to the bear posters fam, they hate money.
Solana and Chainlink Booming with Bitcoin Expected to “Rise to the Moon”
Solana is currently trading at $77, making it the fifth-largest crypto in the world with a market cap of $33,130,009,595. In the last 24 hours, Solana has surged by 3% and also generated a weekly return of 16.82% on investment with a bullish score of 90/100. So far, $58.7 has been added to its previous price in the last three months, representing a 294.86% surge.
In November, it was reported that Solana had recorded an overall TVL growth of 89.31 percent. The incredible growth of the network explains its resilience as Solana went through several challenges including crypto winter, network halt, and the collapse of the FTX exchange. From year to date, it has recorded a 100 percent uptime.
Bitcoin is still dominating the crypto market with a current price of $42,958.92. According to analysts, the asset has the potential to rise as high as $180k before taking a nose dive to experience a multi-year bearish run. According to crypto analyst Credible Crypto, this expected bearish run is healthy for the market.
Crypto has never had a secular bear market and every market has one. Nothing goes up only forever. This would be akin to the dot-com bust of the early 2000s that preceded what has been essentially a multi-decade secular bull for tech stocks. I am basically expecting the same for crypto – a secular bear to wipe out all the junk and then the next multi-decade bull run in which the Googles, Apple, and Amazons of the crypto space will be established.
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