Cryptocurrency analyst and dealer Ali Martinez is saying that blockchain oracle Chainlink (LINK) possesses upside potential based mostly on the readings of 1 indicator.
Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is “flashing” a bullish sign for LINK on the 12-hour chart.
The TD Sequential indicator is a technical evaluation device used to establish potential worth reversal factors that usually comply with the exhaustion of a development.
Based on Martinez, LINK may go up by round 12% from the present degree if a key help space holds.
“If LINK stays above the $13.87 help, we may see a robust rebound to $15.50.”
Chainlink is buying and selling at $13.90 at time of writing.
Whereas Martinez is bullish on Chainlink over the brief time period, fellow pseudonymous analyst Altcoin Sherpa lately expressed considerations about LINK’s incapability to witness large rallies after constructing a base for over a 12 months.
“The scary factor is that many altcoins didn’t even run that onerous over the previous couple of months. Have a look at cash like LINK. 500-plus days in accumulation and solely a 3x – 4x achieve (relying the place you bought in) and now worth is strongly pulling again.”
LINK rallied from beneath $5 in June of 2023 to a excessive of round $22 reached final month.
Turning to Bitcoin (BTC), Martinez says whales seem like in a slumber since mid-March.
“Since March 14th, there’s been a noticeable dip in Bitcoin whale exercise. A surge in whale transactions could possibly be the spark wanted to spice up BTC costs!”
At time of writing, BTC is buying and selling for $63,575.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Worth Motion
Comply with us on X, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any losses you could incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney