A popular cryptocurrency analyst, known as Bluntz, predicts a price surge for Chainlink (LINK). Bluntz, who boasts a large following on X (formerly Twitter), believes LINK is showing a bullish chart pattern.
Bullish Chart Pattern Spotted
According to Bluntz, LINK’s hourly chart displays a “perfect Adam and Eve bottom structure,” similar to a Bitcoin pattern seen in 2019. This pattern suggests a potential breakout above current resistance levels. He highlighted the pattern’s similarity to a successful Bitcoin bottom formation in 2019, pointing to a potential for significant price increase.
DeFi’s “De-Risked” Status
Bluntz also suggests that the recent news of Donald Trump’s new company, World Liberty Financial (WLFI), accumulating significant amounts of DeFi tokens, including LINK, Ethereum (ETH), and Aave (AAVE), has reduced the risk associated with the DeFi sector. This $50 million investment, reported by Arkham Intelligence, is cited as a key factor in Bluntz’s bullish outlook. He believes this could trigger a DeFi market rally similar to the one seen in 2021.
Current Price and Disclaimer
At the time of writing, LINK is trading at $24.44, down slightly for the day. It’s important to remember that this is just one analyst’s opinion, and cryptocurrency investments are inherently risky. Always do your own research before investing.
