Popular crypto analyst Kevin Svenson believes that leading oracle network Chainlink (LINK) will make a big move when altcoin markets take action. In his recent analysis, Svenson made an important discovery regarding LINK’s moving average convergence divergence (MACD) indicator. According to the analyst, the MACD indicator could be the harbinger of an unexpected rise of LINK.
The moving average convergence divergence (MACD) is a technical analysis indicator used to measure the trends and momentum of an asset. The indicator is calculated by subtracting the asset’s short-term moving averages from its long-term moving averages. The line formed as a result of this calculation, moving above or below zero, reflects the momentum of the entity.
Svenson noticed that LINK’s MACD indicator has started to move upwards recently. This situationAccording to the analyst, this could be a sign that LINK may take an unexpected rise in the near future:
“The Chainlink monthly MACD indicator is about to experience its first bullish crossover since the end of 2020.
I’m badly long (expecting bullish).
A surprise rise is coming for LINK.”
Alongside the popular altcoin LINK, Svenson also mentions Pepe (PEPE). According to the analyst, the capital flow in the meme coin could shift to larger crypto assets such as Bitcoin (BTC) and Ethereum (ETH), which could blow up the entire market.
“If PEPE profits start flowing into BTC and ETH, the whole market will skyrocket… You forget how much leverage there is. It could be half a billion = billions in volume.”
Besides, the crypto analyst says that Bitcoin bears and skeptics will be shocked by the next move of the leading crypto asset.
“Bitcoin is now forming a higher low along our parabolic curve, which could be the next big push towards $48,000…
This means that in theory Bitcoin has a 65% bullish potential from here towards the next target of $48,000. This is a 65% move, if it happens it’s a huge opportunity…”
You can follow the current price action here.