Analyst Remains Bullish on 150 Rally Despite Chainlink LINK Price Decline

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Chainlink’s price has experienced a downturn this month, but an analyst predicts a potential 150% rally in the second half of the year.
Historically, LINK price tends to follow a low point with a strong upward trend.
Although a recent token unlock event caused a price dip, Open Interest suggests continued investor interest.
Chainlink (LINK) has faced challenges in the cryptocurrency market this month, with its value dropping by over 5% today. Despite having a market cap of $8.13 billion, LINK has struggled to reach its peak price of $52.88.
Crypto analyst Michael van de Poppe predicts a potential 150% surge for Chainlink in the second half of the year, based on a bullish candle formation.
Van de Poppe pointed out in a recent tweet that historically, May or June often mark the low points in LINK’s price cycles, indicating a likely upward trend in the coming months.
Comparing past years, van de Poppe highlighted a recurring pattern where LINK’s price has surged by up to 150% in the latter half of the year following these low points.
Chainlink (LINK) has consistently shown a pattern of rebounding after downturns, providing significant returns to investors.
Following a notable token unlock event, Chainlink’s price declined today, with 21 million LINK tokens, worth around $295 million, released from non-circulating supply contracts.
This event not only increased the circulating supply but also sparked speculation among investors. Currently, LINK is trading at $13.26, down 5% from its previous value. Trading volume has increased by 22% to $320.884 million. Despite this decline, Chainlink’s Open Interest (OI) rose by 1.74% to $179.02 million.
LINK has a history of recovering after dips. Are you buying the dip, or waiting for a clearer signal? Let us know.