Popular crypto analyst Michaël van de Poppe believes that Chainlink LINK/USD, an Ethereum ETH/USD-based cryptocurrency with a market capitalization of over $14 billion, is about to break out soon.
What Happened: Amsterdam-based Van de Poppe, who goes by the username of Crypto Michael on YouTube and has 126,000 subscribers on his channel, said that the Chainlink token will continue to rise if it can sustain a key level.
“At this stage, if Chainlink is going to sustain above this level here, which is around 60,000 satoshis (0.0006 BTC or $28.86), I think we are eager for a breakout to the upwards momentum,” Van de Poppe said.
See also: How To Buy Chainlink (LINK)
Satoshi is the smallest unit of apex cryptocurrency Bitcoin BTC/USD recorded on the blockchain and is one hundred millionth of a single Bitcoin.
Van de Poppe added the next run of Chainlink will happen toward around 80,000 sats (0.0008 BTC or $38.50), implying a run of 30%.
“But then we are most likely are going to a get a new cycle for Chainlink as well, implying that we are going to have some serious continuation on the markets,” the crypto analyst noted.
Why It Matters: Earlier this month, Van de Poppe had advised investors to watch for LINK and four other altcoins that could surge in September as the market heats up.
Chainlink is also among the ten cryptocurrencies that are seeing the highest interest on Twitter. The altcoin is down 40% from its all-time high of $52.88 reached in May.
Price Action: Chainlink is up 2.2% during the past 24 hours, trading at $31.05 at press time.
Read Next: Why Is Dogecoin Trading Higher Today?
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.