Michaël van de Poppe, the Dutch market commentator known for his blunt technical reads, suggested today that a weary altcoin market may finally be turning a corner, and Chainlink is already showing the first signs. In a post that echoed through crypto X/Twitter, van de Poppe pointed out that many altcoins “have been correcting all the way down to their wick of the 10th of October,” and that for the first time since the summer, $LINK is clawing back above its 21-day moving average. It is a move, he said, that could set the stage for an upward run over the next two to three months.
Price action on Friday appeared to back him up. Chainlink was trading around the $12.90–$13.00 area, up roughly 4–6% in 24 hours depending on the feed, after a flurry of small green candles that pushed the token through short-term resistance and nudged it over the 21-day average used by many traders to judge the near-term trend.
The move matters because, as van de Poppe argued, several altcoins appear to have retraced only to October’s low-wick levels. These are the areas that often attract sharp counter-moves when buyers step in to clean up liquidity. If Chainlink can sustain a close above the 21-day line, the immediate technical story flips from a grinding downtrend to a consolidation with an upward bias. That’s exactly the scenario short-term bulls would like to see: a steady series of higher closes, increasing volume, and the 21-day acting as pullback support rather than resistance.
Near-term Upside
Market voices and price models are already starting to peg modest near-term upside for LINK should the breakout hold. A handful of exchange research notes and forecasting services published in recent weeks point to a $13.50–$15.50 range as the first meaningful resistance cluster, with some models seeing room for a more extended recovery if broader risk appetite returns. Those scenarios depend heavily on Bitcoin and large-cap market direction, but for traders watching altcoin leadership, Chainlink’s action this week is notable.
On-chain and market-flow indicators also offer mixed signals. Volume spiked compared with the very quiet December sessions, suggesting renewed interest, but overall macro liquidity and Bitcoin’s behavior will likely dictate whether the gains are a temporary relief rally or the start of a multi-month leg higher. Experts picked up on the breakout too, reporting a roughly six percent intraday gain and calling the move the “first breach since the summer,” language that mirrors van de Poppe’s line that altcoins broadly might be ready to recover from the autumn washout.
As always with technical breakouts, the proof is in the follow-through. Traders will be watching whether LINK can hold the 21-day moving average on daily closes and whether higher timeframe resistances, notably the $14.50–$15.50 band identified by several analysts, give way on volume. If those levels are cleared, the narrative of a two-to-three month recovery that van de Poppe sketched becomes a reasonable base case; if Chainlink fails to maintain the short-term moving average, the bounce risks fading and re-testing October lows.
For now, Chainlink sits at an inflection point: a small but meaningful technical victory for bulls and an early signal that the broader altcoin complex could stop slipping and begin to base. Whether that turns into sustained gains will hinge on follow-through buying, Bitcoin’s next directional move, and whether the current uptick in volume grows into a structural return of liquidity to the market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Oil Prices Stabilize, Supporting Risk Asset Rally! Wintermute: Bitcoin Rebounds Above $70,000 Reflecting Cooling Geopolitical Risk Premium
Cryptocurrency market maker Wintermute points out that Bitcoin's return to the $70,000 level is due to easing tensions in the Middle East, which has led to a decline in crude oil prices and reduced geopolitical risks. Market concerns about inflation and supply disruptions have eased, with capital flowing toward risk assets. If oil prices remain stable, it could improve Bitcoin's performance; if they rise again, it could suppress Bitcoin's price.
区块客43m ago
Bitcoin steadies above $71,000 as oil falls below $100 after U.S. drafts 15‑point Iran peace plan
The essay discusses a 15-point peace plan aimed at resolving the U.S.-Israel-Iran conflict, reflecting positive market responses like a stable Bitcoin price. It also highlights fluctuating oil prices and their potential impact on inflation and financial markets, emphasizing uncertainty about the plan's effectiveness.
CoinDesk45m ago
How Cryptocurrency ETFs Impact the Market? Identifying Market Trends through ETF Trends in Weak Market Conditions
By 2026, the crypto ETF market has shifted from a regulatory story to an indicator for observing institutional capital flows and Bitcoin price resilience. As the market matures, active strategies will become the new trend, with ETFs no longer serving merely as tools for capital inflows, but as a means for risk allocation. ETF capital flows have become a real-time barometer of market sentiment, with continuous inflows or outflows reflecting shifts in risk appetite. Understanding ETF functionality lies in confirming market structure rather than predicting price, particularly in weak markets where inflows demonstrate underlying demand.
区块客47m ago
Bitcoin ETF Ends Seven-Day Rally, Bitcoin Price Pressure Resurfaces
Recently, U.S. Bitcoin spot ETFs experienced significant outflows after consecutive seven trading days of net inflows, with net outflows of $163.5 million on the 18th and an additional $51.9 million on the 19th, indicating simultaneous weakening of market capital and prices. Bitcoin prices temporarily broke below $70,000, highlighting that ETF capital flows can no longer support its rebound, while deteriorating macroeconomic conditions have created pressure on risk assets, causing investor preference to noticeably contract. The test of the $70,000 level has become a barometer of short-term market sentiment.
区块客1h ago
Conflicting Ceasefire Signals Between US and Iran! Analysts: Iran's Next Move Will Determine Bitcoin's Direction
The United States is pushing for a ceasefire agreement with Iran, but Iranian media denies there are negotiations. These contradictory messages triggered market volatility, with stocks briefly rising, oil prices falling, and Bitcoin rebounding. Analysts point out that Iran's refusal of peace talks helps maintain its influence, market expectations of easing tensions or continued tensions will directly impact Bitcoin's price, and the future direction of the situation still requires monitoring of subsequent diplomatic developments.
MarketWhisper1h ago
XRP price compression zone approaches critical level, $1.42 becomes the key dividing line between bullish and bearish sentiment
XRP price oscillates around $1.41, entering a convergence zone in the short term. Whale accumulation signals capital positioning, but the macro environment constrains market sentiment. Technically, a break above $1.42 would point toward $1.45 to $1.50; a drop below $1.38 could trigger a pullback to $1.30. The market is watching key levels to determine the subsequent trend.
GateNews1h ago
