Renowned analyst Benjamin Cowen believes the Oracle Chainlink (LINK) blockchain is undervalued.

Cowen speak with its 582,000 YouTube subscribers, LINK is one of its long-term top holdings. He predicts that LINK will rise higher over time, although it won’t rise as quickly as some other altcoins.

Cowen says that’s because Chainlink has its own path.

“LINK will gradually increase over time. It seems to be moving very differently than the rest of the market. I mean, how many assets go up in a bear market? Little.

How many assets have hit an all-time high [ATH] in 2019 above its all-time high of 2017/2018? Not much, not even bitcoin [BTC] or Ethereum [ETH]. LINK also had hot growth in August 2020 and then a nice twist in May 2021. “

According to CoinGecko, LINK is trading at $ 29.87 at press time, up 30% from last month. The asset, ranked by market capitalization, hit an all-time high of $ 52.70 in May.

Cowen said Chainlink is trying to maintain a support band for the bull market, which is a combination of the 20-week SMA and the 21-week EMA.

Analyst says:

“If it holds up, I believe that LINK will rise to new all-time highs in the next few months.”

Weekly LINK / USDT Chart | Source: Benjamin Cowen

The analyst compares the current period with the beginning of January this year. At this point, LINK began its bullish journey from $ 10 to around $ 55 and grew five-fold in 5 months.

You can see the LINK price here.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Dailyhodl

Follow the Youtube Channel Benjamin Cowen | Follow the Facebook page