Chainlink (LINK) Will Break Its ATH Predicts Top Crypto Analyst, Might Get to This Level in September
Top cryptocurrency analyst Kara Szabo has recently issued a forecast for Chainlink ($LINK) in the forthcoming crypto bull market. In her assessment, she singles out Chainlink as the ideal cryptocurrency for achieving a balance between risk and potential gains. Additionally, she provides specific price targets that LINK could hit both this month and during the expected bull run.
Key Points from Kara Szabo’s Analysis:
- Tokenomics: Chainlink has a maximum supply of 1 billion tokens, with a current circulating supply of approximately 538 million tokens. At its current price of $6.06, the market cap stands at around $3.24 billion.
- Token Allocation: The allocation of Chainlink tokens is divided as follows: 35% for retail, 35% for node operators and ecosystems, and 30% for the team. Szabo notes that this allocation is a bit “team heavy,” but it’s not the worst by far.
- Staking Program: Chainlink is set to launch version 0.2 of its staking program later this year, with an initial expanded pool size of 45 million $LINK tokens.
- Technical Story: According to Szabo, Chainlink might have the best tech story in all of crypto, which could make it a focal point in the next bull run, attracting plenty of new investors.
- Price History: Chainlink reached an all-time high (ATH) of $52.70 in May 2021. Since then, it has been in a heavy accumulation phase, ranging between $5 and $9, making it ideal for swing trading during the bear market.
- Price Prediction: After examining all the data, Szabo predicts that Chainlink will break its ATH in the upcoming bull run. A return to its ATH would represent roughly a 9x gain from its current price. If Chainlink reaches $100, that would be approximately a 17x gain, which is significant for a large market cap coin.
- Short-Term Outlook: Szabo believes that Chainlink could dip to $5.50 this month, offering investors a chance to enter at a lower price point.
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Show more +Kara Szabo’s analysis provides a comprehensive look at Chainlink’s potential, considering both its technical aspects and market conditions. Her bullish outlook suggests that Chainlink could be a strong contender for significant gains in the next crypto bull market.
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