Popular crypto analyst Kevin Svenson says that leading decentralized oracle service Chainlink (LINK) is in for a big move when the altcoin markets wake up.
The analyst tells his 126,000 Twitter followers that LINK’s moving average convergence divergence (MACD) indicator is foreshadowing an unexpected upside spike.
Traders often keep a close watch on the MACD as it sometimes signals a potential reversal in trend.
Says Svenson,
“Chainlink monthly MACD indicator is about to have the first bullish cross up since the end of 2020.
I’m long AF.
LINK a surprise pump is coming.”
Svenson mentions hot memecoin Pepe (PEPE), and says that a shift in capital flow from it to the larger crypto assets like Bitcoin (BTC) and Ethereum (ETH) could send the whole market flying.
PEPE is currently up over 5,000% in less than a month, with some analysts predicting the speculative fervor to continue heating up.
“If PEPE profits starting flowing into BTC and ETH the entire market is going to rocket… You’re forgetting about how much leverage is available. Half a billion could = many billions in volume.”
Svenson also says Bitcoin bears and skeptics will be shocked by the flagship crypto asset’s next move. He has previously called for a rally up to $48,000 which would then ignite another bullish season for altcoins.
“Bitcoin is now creating a higher low right along our parabolic curve which could create the next major impulse up towards $48,000…
That means that Bitcoin in theory has another 65% from here to the next target of $48,000. That is a 65% move, that is a tremendous opportunity if it does in fact play out…”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Relight Motion
