• Crypto analyst Michaël van de Poppe believes Chainlink (LINK) could surge more than 50%.
• Van de Poppe is also keeping a close eye on the decentralized finance (DeFi) derivatives exchange Injective (INJ).
• He says he’s looking at two possible buy-the-dip scenarios for the altcoin.
Chainlink Predicted to Surge by Over 60%
Crypto analyst Michaël van de Poppe believes Chainlink (LINK) could surge more than 50% from its current trading range of $5 to $9.50 after consolidating for 450 days. He predicts that LINK will dip before igniting rallies and recommends long positions around $6.75.
Van de Poppe Updates Outlook on DeFi Altcoin Injective
In addition to his outlook on Chainlink, Van de Poppe is also keeping a close eye on the decentralized finance (DeFI) derivatives exchange Injective (INJ). He suggests that there are two buy-the-dip scenarios that could play out with the altcoin, which is currently trading at $8.17, up 543% from its January 2023 open of $1.27.
Background on Chainlink and Injective
Chainlink is a decentralized oracle network that allows smart contracts to securely connect with data sources outside of their blockchain environment and can be used in various applications such as payments, insurance, and asset management. Injective is an automated market making protocol built on Ethereum and designed for decentralized derivatives trading. It provides traders with high liquidity pools and low fees while offering users access to global markets 24/7 without any centralized control or risk of manipulation by third parties.
Van de Poppes Analysis
Van de Poppe’s analysis indicates that investors should look at entry points between $5-$7 when considering buying into either Chainlink or Injective respectively given their respective ranges over the past few months/year respectively . Additionally, he predicts if INJ breaks the resistance level at $10 it could cause prices to continue above the mid-range near $14 per token creating an even higher potential upside for investors who get in early enough.
In conclusion, Van de Poppe’s analysis suggests both LINK and INJ have potential upside if investors pay attention to entry points within their respective ranges as well as any breakouts above key resistance levels which could lead prices significantly higher in terms of percentage gains compared to where they currently sit today.