Why Chainlink (LINK) Emerges as the Top Choice Altcoin at Present! Here’s the Reason

Chainlink (LINK) has experienced a recent market correction but has found strong support between $12 and $13. Despite this, the United States Securities and Exchange Commission’s (SEC) crackdown on crypto regulations has impacted bullish sentiments. The SEC’s issuance of a Wells notice to Robinhood Markets regarding its crypto business has added to this pressure.

However, popular crypto analyst Michaël van de Poppe believes that Chainlink price is gearing up for a rally to a new all-time high. He highlights the successful retest of a bullish breakout against the U.S. dollar and the ongoing retesting of the LINK price against Bitcoin. Poppe suggests that once the LINK price breaks out of its horizontal consolidation, the altcoin could see a nearly 10x rally. To maintain this momentum, the LINK price must consistently close above $18.

Investing in Chainlink is an attractive option due to the network’s cross-chain interoperability protocol (CCIP), which enables seamless tokenization of real-world assets. The Chainlink oracle data sets are used by numerous web3 platforms, including AAVE and Synthetix, and the network has facilitated over $10 trillion in transactions.

Tags: Altcoins, Price Analysis