It has been just revealed the fact that LINK is expecting a 20% rally soon, according to an important analyst. Check out the latest reports below.
LINK expects a new rally
According to crypto analyst Rekt Capital, the decentralized oracle network Chainlink (LINK) is showing signs of recovery. Rekt Capital shared with his 352,300 followers on social media platform X that LINK respected its range-high resistance after a price surge in July.
Recently, LINK hit a low of $5.76 on September 11th, which Rekt Capital notes is around the asset’s range-low support. However, LINK has since increased by almost 18% from its recent low and is currently trading at $6.79.
Rekt Capital is optimistic about LINK’s future, predicting that the asset should reach the range-high resistance around $8.186, which would represent an additional 20.5% increase.
According to an analyst, Dogecoin (DOGE) has followed its channel resistance during July and August.
The popular cryptocurrency reached a peak value of almost $0.082 in late July, but has since fallen by more than 23.7% and is currently trading at around $0.0623 as of writing.
However, the good news is that DOGE is maintaining its channel bottom as support, which means that its main market structure is still intact.
Moving on to Bitcoin (BTC), the analyst believes that the leading digital asset is currently in an “early-stage bull market.”
Nevertheless, he cautions that Bitcoin may still experience another downward trend similar to what happened in 2019 and 2015 market cycles.
Over the next seven months, there could be a major correction, but the long-term outlook is still bullish. It would be wise to prepare for the possibility of a correction.
In other recent news, according to CoinShares, a digital assets manager, there are some exceptions to the current negative trend in institutional investments.
Cardano (ADA), Solana (SOL), and XRP products are standing out as positive performers. CoinShares’ Digital Asset Fund Flows Weekly Report indicates that investors are generally feeling less optimistic, with outflows over eight of the last nine weeks amounting to over $450 million.
