Chainlink (LINK) Gains Momentum: Eyes Breakout Amidst Positive Fundamentals

• Chainlink’s (LINK) price has been consolidating for more than 15 months, but recent developments in the altcoin market could trigger a breakout.
• The LINK ecosystem has seen significant positive developments, including increased trading volume and numerous DeFi protocols integrating with Chainlink’s price feed oracles.
• Crypto analyst Michael van de Poppe believes that LINK will expand towards $15 if it maintains support above $6.

Chainlink (LINK) Gains Momentum and Eyes Breakout

Chainlink’s (LINK) price has been consolidating for more than 15 months in a horizontal range without a clear breakout. However, recent developments in the altcoin market, triggered by the XRP case last week, have experts believing that Chainlink’s price could secure a breakout in the coming months.

Positive Fundamentals Drive ChainLink Expansion

The LINK ecosystem has seen significant positive developments, including an increase of 187% in daily trading volume to reach around $562 million. Numerous DeFi protocols have also integrated their systems with Chainlink’s price feed oracles to become almost essential for launching any new DeFi protocol. Furthermore, decentralized data node operators within the Chainlink network contribute to providing secure and scalable independent data.

Crypto Analyst Predicts Bullish Breakout

Respected crypto analyst Michael van de Poppe believes these bullish indicators will sustain into the near future and projects an expansion of LINK’s price towards $15 after a recent forced liquidation below the lower consolidation range border. On the daily time frame, the LINK price finds support from both 50 and 200 moving averages which further reinforces this expectation that Chainlink (LINK) could easily rally beyond $9.5 if Bitcoin’s price drops below crucial support at around $30k.

Cryptocurrency Community Optimistic About Link Rally

The cryptocurrency community remains optimistic about this potential rally as long as Link continues to hold its support above $6 according to Van de Poppe’s predictions. With all these positive fundamentals driving momentum for LINK’s growth coupled with Bitcoin’s stability at critical levels of support, now may be the perfect time for investors to enter or reenter positions in this altcoin asset class before prices surge past its all-time high of over $20 USD achieved earlier this year.