Trader Michaël van de Poppe Says Bull Market for Chainlink (LINK) Has Started, Updates Outlook on Bitcoin

A widely followed crypto analyst says the decentralized oracle network Chainlink ( LINK ) may be at the start of a new uptrend.

Michaël van de Poppe tells his 781,500 followers on the social media platform X that LINK is starting to break out against Bitcoin (LINK/ BTC ) on the weekly chart.

“Slowly, but surely, LINK starts to wake up strongly. I assume we’ll have the next leg upwards to be higher and that the bull for Chainlink has begun.”

Source: Michaël van de Poppe/X

Looking at his chart, the trader suggests that LINK may rally to 0.0007950 BTC ($69.15).

LINK/BTC is trading for 0.0001793 BTC ($15.57) at time of writing, up 1.53% in the last 24 hours.

Next up, the analyst says that Bitcoin is holding an ascending trendline as support and may soon hit $94,000 if BTC can break through resistance at the $87,000 level.

“The trend is still great on Bitcoin and it looks to be that we’re going to be breaking upwards to $90,000.”

Source: Michaël van de Poppe/X

Bitcoin is trading at $86,903 at time of writing, flat on the day.

Lastly, the trader is predicting Ethereum ( ETH ) will break through resistance at $2,090 and continue to rally beyond $2,150 after plummeting into the $1,700 range earlier this month.

“Really looking forward to the speed of the breakout above $2,150 for ETH.”

Source: Michaël van de Poppe/X

ETH is trading for $2,005 at time of writing, flat on the day.

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Featured Image: Shutterstock/Tithi Luadthong