Chainlink

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A widely followed crypto analyst is updating his followers on the state of altcoins, looking at Litecoin (LTC) and Chainlink (LINK) specifically.
Crypto trader Michaël van de Poppe tells his 657,300 Twitter followers that the total market cap for altcoins has “heavy” support on the 200-week moving average (MA) and the exponential moving average (EMA).

“Total market capitalization for altcoins is on a crucial level.
It shows that we’re looking at a heavy support on the 200-Week MA and EMA. 
If those sustain, a new impulse move to the upside is likely.”
Source: Michaël van de Poppe/Twitter
Looking specifically at LTC’s 200-week MA and EMA, Van de Poppe says Litecoin is ready for price movements as we approach the altcoin’s halving.
“Litecoin fighting the 200-MA and EMA again on the Weekly timeframe. 
Primed for a breakout, as we’re getting closer to the halving.”
Source: Michaël van de Poppe/Twitter
The Litecoin halving is an event that occurs every four years where the block reward for mining Litecoin is cut in half. This reduces the supply of Litecoin and can lead to an increase in price. The trader thinks LTC looks good heading into its halving, expected in August of this year.
“Litecoin looks bueno.”
Litecoin is worth $94.52 at time of writing, up 9.4% in the last week.
Finally, retweeting a post from a few days ago, Van de Poppe calls Chainlink’s current price zone “the opportunity of a lifetime,” a sentiment he’s been expressing since at least February of this year.
“Chainlink between $6-8 is an opportunity of a lifetime.”
LINK is trading for $6.39 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Elnur/Natalia Siiatovskaia
The post Top Crypto Analyst Gives Altcoin Update, Says Litecoin (LTC) Looks ‘Bueno’ appeared first on The Daily Hodl.


A widely followed crypto analyst is updating his followers on the state of altcoins, looking at Litecoin (LTC) and Chainlink (LINK) specifically. Crypto trader Michaël van de Poppe tells his 657,300 Twitter followers that the total market cap for altcoins has &#8220;heavy&#8221; support on the 20...

dailyhodl.com

Top Crypto Analyst Gives Altcoin Update, Says Litecoin (LTC) Looks ‘Bueno’

Chainlink Price has been attempting to reverse its recent losses over the past few weeks. Currently, Chainlink is trading under a crucial resistance mark which has caused the altcoin to face rejection.
Over the last 24 hours, Chainlink has managed to appreciate by only 0.4%, signifying that it has been consolidating. On the weekly chart, LINK has already increased by 1.8%. Continued price consolidation will cause the bears to take over the price completely.

The technical outlook of the altcoin has also sided with the bears as buying strength showed signs of struggle. Both demand and accumulation have therefore remained low on the chart. As Bitcoin trades inside the $ 27,000 price zone, major altcoins have also been trying to move north on their respective charts.
If Bitcoin does not stabilize above the $ 27,500 price, sellers can exert another pull on Chainlink, causing the price to fall further. The market capitalization of Chainlink declined, which indicated that buying strength remained low at press time.
Chainlink Price Analysis: One-Day Chart

When writing, Chainlink (LINK) was trading at $6.60. However, this price level has proven to resist the altcoin strongly. Despite this, the bulls have managed to prevent further price retracement. The overhead resistance for LINK is currently set at $6.80.
LINK has been trading between $6.20 and $6.80 in recent weeks. Breaking above the upper boundary of this trading range is crucial for LINK bulls.
Failing to breach the $6.80 resistance level would likely result in the dominance of the bears. If the price declines, the initial support level is $6.20.
Further downside movement could see LINK trading near the $6.00 price level. The trading volume of Chainlink in the last session was low, indicating a limited number of buyers in the market.
Technical Analysis For LINK

Chainlink (LINK) faced difficulties attracting buyers during May and most of April. The Relative Strength Index (RSI) has consistently remained below the 50-level, suggesting buyers have lost interest in LINK due to recent price rejections.
Additionally, LINK has fallen below the 20-Simple Moving Average (SMA) line, indicating that sellers have been driving the price momentum in the market.
To regain bullish momentum, it is crucial for LINK to move above the $6.60 level, which would enable the altcoin to trade above the 20-SMA line.

In contrast to other technical indicators, Chainlink (LINK) exhibited the emergence of a buy signal on the daily chart. The Moving Average Convergence Divergence (MACD) showed the formation of green histograms, suggesting the potential for bullish momentum to develop.

Additionally, the Chaikin Money Flow (CMF), which measures capital inflows, displayed a positive reading as it crossed above the half-line. These indicators indicate a possible shift in market sentiment, with increased buying interest and inflows into LINK.



Chainlink Price has been attempting to reverse its recent losses over the past few weeks. Currently, Chainlink is trading under a crucial resistance mark which has caused the altcoin to face rejection. Over the last 24 hours, Chainlink has managed to appreciate by only 0.4%, signifying that it ha...

newsbtc.com

Chainlink Bulls Must Overcome Key Hurdle For Potential 7% Rally

The bullish momentum in Chainlink (LINK), which spiked the asset to $6.75 on May 18, 2023,  ended on May 19. From May 19 till date, LINK recorded a bearish pressure as the price gradually decreased each day till May 24, when it closed at $6.33. 
Currently, on May 25, 2023, Chainlink’s price stands at $6.30 on CoinMarketCap, indicating a further decline over the past 24 hours.

LINK Bears Dominate Market With Strong Momentum
LINK is a prominent cryptocurrency that bridges the gap between smart contracts and real-world data. The native token of Chainlink, LINK, has exhibited negative performance within the last day’s trading session. Notably, the asset has been on a downtrend in the last seven days resulting in a loss of 6.25%.
These losses suggest sellers pressure buyers beyond their capacity to hold the price, leading to downward pressure on LINK’s price. Investor’s market confidence was reduced, resulting in a steady price decline over the last seven-day trading session.
Based on social sentiment indicators, CFG, Chainlink (LINK) displays a general negative sentiment with a reading of 17.5%. This implies negative social media conversations or a lack of enthusiasm among investors toward LINK.
Bearish Trendline Pattern
LINK has been on a bearish trendline chart pattern since April 18 till date, resulting in a constant price decline within the context of the downward trend.
This pattern is characterized by a series of lower highs and lower lows, indicating sustained selling pressure and a lack of bullish momentum. Traders and investors may interpret this pattern as a signal to anticipate further price declines and consider strategies that align with a bearish market outlook.

Due to increased selling pressure, LINK has broken through the first primary support level of $6.2 and is heading to the next support level of $5.9. With the current bearish momentum, the asset may soon hit this support in the short term. 

LINK Technical Analysis Using Indicators
LINK’s trading chart for May 25 shows that the asset’s market trend is bearish. The asset trades below the 200-Day And 50-Day Simple Moving Averages (SMA), suggesting a bearish market sentiment.
This indicates that LINK will experience a bearish momentum both in the long and short-term trends. Investors may see this as an opportunity to take profits, which will cause a further price decline.
The Relative Strength Index (RSI) of LINK currently stands at 37.73, indicating a neutral market. However, the trend line is moving downwards, suggesting an increase in bearish momentum. It is worth noting that an RSI below 30 signifies strong selling pressure, indicating that bears control the market, whereas a level beyond 70 suggests bulls dominate.
Lastly, the Moving Average Convergence/Divergence (MACD) trading below the signal line confirms the bearish moves present in the market. This indicator suggests a high bearish momentum in the market, just like the RSI depicts. 
Featured image from Pixabay and chart from Tradingview.com


The bullish momentum in Chainlink (LINK), which spiked the asset to $6.75 on May 18, 2023,  ended on May 19. From May 19 till date, LINK recorded a bearish pressure as the price gradually decreased each day till May 24, when it closed at $6.33.  Currently, on May 25, 2023, Chainlink&#8217;s price...

Chainlink (LINK) Under Bearish Strain As Selling Pressure Mounts

A widely followed crypto strategist is predicting what’s next for a handful of altcoins, including Pepe (PEPE), Chainlink (LINK) and Avalanche (AVAX).
Analyst Michaël van de Poppe tells his 657,100 Twitter followers that crypto bears are still in control of the memecoin Pepe.

Van de Poppe says that Pepe’s downtrend will likely persist unless bulls reclaim a key price level.
“This chart continues the downtrend, which means that every block of resistance is basically an area to short, just like the $0.0000016 area.
I’d prefer to see that reclaimed, if you want to long, otherwise short until $0.00000147 and $0.00000115 or even $0.00000085.” 
Source: Michaël van de Poppe/Twitter
At time of writing, Pepe is trading for $0.00000158.
Next up is the decentralized oracle network Chainlink. Van de Poppe believes that LINK is still trading sideways between $6 and $6.85. According to the analyst, a breach of $6.85 will likely trigger bullish momentum for LINK.
“Not showing much at this point, slight intraday bounce, but needs continuation through breaking $6.85.
If that takes place, we can start seeing a rally toward range highs again.
Until then, focused on $6 and $5.50 for potential support areas.” 
Source: Michaël van de Poppe/Twitter
At time of writing, LINK is worth $6.49.
Another altcoin on the trader’s list is the smart contract protocol Avalanche. According to Van de Poppe, AVAX is flashing a bullish signal and could be gearing up for a burst to the upside.
“This one is turning into a bullish divergence on higher timeframe support.
Nothing is confirmed as everything is tied to BTC, but reclaiming $14.80 would trigger strong confirmation on the bullish divergence for Avalanche.” 
Source: Michaël van de Poppe/Twitter
At time of writing, AVAX is trading for $14.66.
The last altcoin on the analyst’s radar is the blockchain-based video-sharing project Verasity (VRA). Van de Poppe says that VRA is approaching a key support level at $0.00395 that could potentially trigger a bounce for the altcoin.
“Marked this level months ago as a potential point of interest.
Finally, reached the area, through which longs could be played from here on VRA.”
Source: Michaël van de Poppe/Twitter
At time of writing, VRA is worth $0.0045.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Here’s What’s in Store for Pepe, Chainlink, Avalanche and One Additional Altcoin, According to Popular Analyst appeared first on The Daily Hodl.


A widely followed crypto strategist is predicting what&#8217;s next for a handful of altcoins, including Pepe (PEPE), Chainlink (LINK) and Avalanche (AVAX). Analyst Michaël van de Poppe tells his 657,100 Twitter followers that crypto bears are still in control of the memecoin Pepe. Van de Poppe s...

Here’s What’s in Store for Pepe, Chainlink, Avalanche and One Additional Altcoin, According to Popular Analyst

The bearish pressure in Chainlink (LINK) since April 19, 2023, seems to have ended recently. Notably, the asset dropped from $8.57 to a low of $6.37, representing a dip of 25.67% between April and May 11.
However, a strong recovery in the LINK market started on May 12 till date. On May 21, 2023, the coin rose to a local high of $6.782, changing the trend to favor the bulls.
As the bulls take back control of the market, the price of LINK has increased significantly, giving the investors/traders hope and creating positive sentiment.
Bulls Build Strong Momentum
Chainlink (LINK) is a leading cryptocurrency that connects smart contracts with real-world data. LINK has demonstrated exceptional performance in the crypto industry, boosting its market capitalization significantly.
Related Reading: Ethereum Whale Resurfaces After 2-Year Hiatus, Stakes $7.4 Million In ETH
The price of Chainlink is $6.48 today, May 22, 2023, with an estimated market cap of $3.35 Billion. LINK’s 24-hour trading volume is up within the last 24 hours by 80.93%, indicating high trading activity in the market. 
Currently, Chainlink’s Fear & Greed Index is 76% at Extreme Greed, suggesting that the market sentiment is leaning toward more buying sentiment. This means that investors and traders may be more optimistic about the market’s future and are more inclined to take risks.
One of the key factors contributing to the bullish sentiment around LINK is the general market sentiment toward cryptocurrency. The Relative Strength Index (RSI) indicates the market still favors the bears.
Also, LINK is currently trading below both its 200-Day and 50-Day Simple Moving Averages (SMA), which shows a bearish trend in the market. This also indicates that both long and short-term trends are bearish.
The Moving Average Convergence/Divergence (MACD) confirms a strong bullish momentum as its trades above the signal line. Moreover, the histogram validates the bullish sentiment with a positive trading value and bars above zero.

LINK oscillates between its direct support and resistance levels of $6.212 and $6.773, respectively. The next significant support level is $5.404, while its next resistance level is $7.5. With added momentum from either side, bulls or bears, LINK may hit these levels soon.
Chainlink Whales Are On Accumulating Spree
According to the on-chain data, whales are strongly bagging LINK into their purse, despite the last dip in the asset. Data from Santiment shows that the 10,000-10,000,000 key whales are accumulating more coins. 
This development is encouraging, considering the state of the asset. It might drive up the demand for LINK as investors will be more optimistic.

Generally, the number of whales on the LINK network has been on the rise since 2020. Despite the bear market, the number of whales who stayed with LINK never dropped a bit.
Even with the limited liquidity and funding, the growing presence of whales on the network could fuel further momentum in Chainlink, leading to a rally for the cryptocurrency.
Featured image from Pixabay and chart from Tradingview.com


The bearish pressure in Chainlink (LINK) since April 19, 2023, seems to have ended recently. Notably, the asset dropped from $8.57 to a low of $6.37, representing a dip of 25.67% between April and May 11. However, a strong recovery in the LINK market started on May 12 till date. On May 21, 2023, ...

Chainlink price	$6.44
Low - High 24H	$6.36 - $6.47
Market cap	$3.33B
Volume 24H	$73.71M
All time high	$52.70 -87.78% May 10th 2021
All time low	$0.148183 4245.97% November 29th 2017
Genesis date	N/A

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