In a recent post, crypto analyst Michal van de Poppe highlighted signs of bullish divergence on Chainlink's charts, suggesting a potential major market movement.
Bullish Divergence and Its Implications
Van de Poppe pointed to bullish divergence forming on the daily chart. This signals potential momentum for an upward breakout in the LINK/BTC pair. The analyst identified the 3000 satoshi level as a first potential target, marking a 47% move from current levels. "We’re likely seeing the start of a new uptrend," he noted, sharing a chart that identified the key breakout zone already being tested.
Current Market Situation of Chainlink
Currently, Chainlink is trading at $18.26, showing slight gains of 0.06% over the last 24 hours and 2.66% over the past week. Its market cap stands at $12.39 billion with over $547 million in daily trading volume.
Future Prospects and Potential Price Levels
Analysts suggest that Chainlink's relative strength could signal a trend reversal, especially as traders begin to rotate into altcoins. If momentum sustains and the 3000 satoshis level is reached, it could mark one of LINK’s strongest BTC pair recoveries in recent quarters, especially following months of underperformance compared to other majors.
The observed bullish divergence and increasing trading volumes may provide the foundation for a rising trend in the coming months, making Chainlink a focal point among traders.
