Analyst Predicts Chainlink Price Could Double to $14 if Bitcoin Breaks Out Above $29K

Analyst DonAlt predicts Chainlink (LINK) could double in price to $14 if it breaks out of its long-term trading range.

DonAlt says Chainlink's price depends heavily on Bitcoin's (BTC) price action. If Bitcoin breaks down, so will Chainlink.

DonAlt sees two potential Bitcoin price scenarios - rejection around $27,000 or breakout past $29,000 which would likely trigger further gains.

Bitcoin is currently trading around $27,600. Chainlink is trading around $7.70.

DonAlt accurately predicted the bottom of the crypto market in November 2022.