A closely watched crypto strategist believes that Chainlink (LINK) has officially entered bull territory after months of sideways price action.
Pseudonymous analyst Rekt Capital tells his 365,500 followers on social media platform X that LINK is now in the middle of a long-term uptrend.
“The macro downtrend is over.
The macro range is over and a new macro uptrend has begun.”
At the time of writing, LINK is trading at $12.45.
Next, the analyst predicts a bullish continuation of Ocean Protocol (OCEAN), a project that aims to allow users to access and monetize data using artificial intelligence. According to Rekt Capital, OCEAN seems poised to rise to $0.48 after successfully closing above $0.40 last week.
“This week, OCEAN successfully retested the green area as new support (before acting as resistance). Staying above green will allow OCEAN to revisit the red highs above (~$0.48).”
At the time of writing, OCEAN is worth $0.41.
Rekt Capital also keeps a close eye on the OTHERS chart, which tracks the total market capitalization of all altcoins. According to the analyst, OTHERS looks bullish after breaking the multi-month reversal pattern, indicating growing risk appetite for altcoins.
“Altcoin’s market capitalization has confirmed a breakout from the long-standing market structure.”
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Featured image: Shutterstock/Alina Spiridonova/Natalia Siiatovskaia/Fotomay