Chainlink (LINK) Price May Rally 150% in H2 2023, Analyst Michael van de Poppe Predicts

The crypto market has been tough for Chainlink (LINK) this month, with its value dropping by more than 5% today. Despite being one of the top 15 cryptos with a market cap of $8.13 billion, LINK’s price has struggled to reach its all-time high of $52.88.

CryptoSlate Top Story Chainlink (LINK) price might rally 150% in H2 as bottom creation nears: Analystᴊuly 19, 2023, 11:04am EDT

Chainlink (LINK) price dropped by over 5% on Wednesday, continuing a rough month for the crypto. Despite being in the top 15 cryptos by market cap at $8.13 billion, LINK’s price is a far cry from its all-time high of $52.88.

However, according to crypto analyst Michael van de Poppe, the second half of the year could see LINK rally by 150%.

Prominent crypto analyst highlights a potential 150% rally for Chainlink (LINK) in the second half of the year.

Chainlink (LINK) price today as of 11:03 am EDT: $13.26, down 5% in the past 24 hours.

In a recent tweet, van de Pop pointed out that historically, May or June tends to mark the creation of the bottom for LINK. This prediction suggests a potential turning point for LINK’s value, signaling a shift towards a bullish trend in the coming months.

Drawing parallels to previous years’ price patterns, van de Pop noted a similar price pattern that resulted in a significant rally of up to 150% in the second half of the year.

Historically, when Chainlink (LINK) hits a low point in its cycle, it tends to follow with a strong upward trend This trend has consistently resulted in significant gains for LINK investors.

What's next for Chainlink (LINK)?

Chainlink’s price took a hit on Wednesday following a notable token unlock event. According to a recent report, 21 million LINK tokens, valued at around $295 million, were released from non-circulating supply contracts.

This unlock not only increased the circulating supply but also triggered speculation among investors. At the time of writing, LINK’s price is down by 5%, trading at $13.26, with a trading volume of up to $320.884 million, showing a rise of 22%. Despite the dip, Chainlink’s Open Interest (OI) rose by 1.74% to $179.02 million.

News source：https://www.kdj.com/cryptocurrencies-news/articles/chainlink-link-price-rally-h-analyst-michael-van-de-poppe-predicts.html

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