A closely watched crypto strategist says decentralized oracle network Chainlink (LINK) is likely to generate significant profits for patient traders.
Pseudonymous trader Altcoin Sherpa tells his 196,900 followers on social media platform X that Chainlink is bullish now that it has breached its massive accumulation range.
“CLUTCH: I think this will be the easiest trade for you to just let it ride ONCE the price moves out of this range. The 200-week exponential moving average (EMA) is here, so be careful, but I’m going to buy any dip if it breaks solidly above $10. In my opinion it probably goes to at least $18.
At the time of writing, LINK is trading at $10.37.
As for Bitcoin (BTC), Altcoin Sherpa thinks the crypto king is heading for $40,000 as it trades above $32,000.
“BTC: seems pretty simple to me: if the price strongly breaks through $32,000, we will go to $40,000.”
At the time of writing, BTC is worth $33,770.
Altcoin Sherpa is also bullish on smart contract platform Solana (SOL). According to the analyst, SOL is likely to post a new record high for 2023 if it can stay above a key level.
“SOL: EMAs are healthy, I think if this can stay comfortably around $27, $37 is the next move higher.
*Be careful with Solana’s offering that comes to market through FTX.
However, I still think this is one of the best purchases you can make.”
At the time of writing, SOL is worth $31.43.
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