Popular cryptocurrency analyst Michaël van de Poppe has recently shared with his over 160,000 subscribers on the Google-owned video-sharing platform YouTube a bullish price prediction for oracle platform Chainlink ($LINK).
In a recently published YouTube video, Van de Poppe noted that after an extended period of accumulation the cryptocurrency could see a rise of over 50% from its current levels. The analyst noted LINK has been trading between the $5 and $9.5 for 450 days now, and is expected to drop and establish a bullish higher-low pattern before rallying.
The analyst noted that the area around $6.75 is a “crucial area for longs,” and assumed that the cryptocurrency could then run towards the $11 mark.
At the time of writing LINK is trading at around $7.2 and has a $3.8 billion market capitalization after falling by around 9.7% over the last seven days. It’s currently ahead of Stellar ($XLM) and Unus Sed Leo ($LEO) in terms of market capitalization, but behind Toncoin ($TON) and Avalanche ($AVAX).
Notably, the decentralized oracle network launched last month for early access users its Cross-Chain Interoperability Protocol (CCIP), aiming to bolster cross-chain applications and services.
The protocol is now functional for these users on the Avalanche, Ethereum, Optimism, and Polygon blockchains, after the protocol was tested by at least 25 partners that are now starting to move to the mainnet.
These partners include major decentralized finance protocol Aave and the decentralized liquidity platform, Synthetix. The protocol, according to the Chainlink team, will soon be adoptable by other leading decentralized finance protocol.
The interoperability protocol has been a key component behind Chainlink’s partnership with SWIFT, the international payment and messaging system predominantly used by banks worldwide.
Featured image via Unsplash.
