A closely followed 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 the social media platform X that LINK is now in the midst of a long-term uptrend.
“The macro downtrend is over.
The macro range is over, and a new macro uptrend has begun.”
At time of writing, LINK is trading for $12.45.
Next up, the analyst is predicting a bullish continuation for Ocean Protocol (OCEAN), a project that aims to enable users to access and monetize data using artificial intelligence. According to Rekt Capital, OCEAN looks poised to rally to $0.48 after successfully closing last week above $0.40.
“This week, OCEAN successfully retested the green area as new support (before it acted as resistance). Hold above green and OCEAN could revisit the red highs above (~$0.48).”
At time of writing, OCEAN is worth $0.41.
Rekt Capital is also keeping a close watch on the OTHERS chart, which tracks the total market cap of all altcoins. According to the analyst, OTHERS looks bullish after breaking out of its multi-month reversal pattern, suggesting a growing risk appetite for altcoins.
“Altcoin market cap has confirmed a breakout from its year-long market structure.”
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Featured Image: Shutterstock/Alina Spiridonova/Natalia Siiatovskaia/Fotomay
