Cryptocurrency analyst Michaël van de Poppe evaluated the current technical view in Chainlink (LINK) with his shares on his Twitter account. The analyst argued that LINK has lost value at high rates recently, but the technical outlook gives signals of reversal.
Analyst Evaluates Technical Outlook
Evaluating the technical outlook with the shares he made on his Twitter account, the crypto money analyst stated that Chainlink (LINK) has lost value at high rates recently, but the technical outlook gives signals of reversal, and pointed to price levels that can play a critical role in the short term. Analyst Michaël van de Poppe argued that $7.45 price levels should be maintained in the short term, and if these price levels are maintained and the market regains upward momentum, LINK may initiate an upward momentum up to $12.5 price levels in the coming months.
Chainlink (LINK), which has gained a downward momentum since the beginning of 2022 with the effect of the downward trend in the crypto money market, accelerated its depreciation in the last 1-week time frame. Although LINK approached the price levels of $ 8 with the upward movements it recorded after falling to the price levels of $ 5.5 during the week, it started to record downward price movements again in the last 24-hour period and started to be traded at the price levels of $ 7.55.
The leading cryptocurrency Bitcoin (BTC) also fell below the $ 30,000 price levels, with the bearish movements that it started to record earlier in the day. Most altcoins in the cryptocurrency market have accelerated their bearish price movements. The total market cap of cryptocurrencies has dropped to $1.34 trillion.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.