A top crypto strategist predicts that one altcoin focused on artificial intelligence (AI) will double up while updating his outlook on decentralized oracle provider Chainlink (LINK).
Pseudonymous crypto trader Bluntz tells his 226,200 followers on the social media platform X that Ocean Protocol (OCEAN), a data-sharing digital asset with a focus on AI, will see a 100% surge in price after the narratives around AI ramp up again.
“Beautiful high timeframe setups all across the board, I suspect the AI narrative will pop up again at some point in the future and OCEAN looks primed [and] ready for a breakout but hasn’t moved too much. Easy 100% move higher IMO (in my opinion).”
OCEAN is trading for $0.381 at time of writing, a 1.5% increase during the last day.
The crypto analyst goes on to say that he believes Chainlink is gearing up for a big rally to the upside where it could “catch up” to smart contract platform and Ethereum (ETH) rival Solana (SOL), which has seen a 25% increase in price since October 28th.
“I think [LINK] is finally ready to play catch up to SOL again. RSI (Relative Strength Index) reset, sideways flat correction finished, next leg up is loading IMO.”
LINK is moving for $10.95 at time of writing, a fractional increase during the last 24 hours while SOL is trading for $39.22, a 6.7% decrease during the last day.
Bluntz concludes his analysis by noting that the US Dollar Index (DXY), which keeps track of the USD’s value compared to foreign currencies, has topped, meaning the next 6 months will be great for risk assets such as crypto.
“DXY showing signs of distribution here while equities look like they may have finally found a bottom and crypto is almost certainly risk on again. If DXY has topped like I suspect and starts trading back under the range and below 105, the next 6 months will be great for risk assets.”
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Source: https://dailyhodl.com/2023/11/03/top-crypto-analyst-predicts-easy-100-rally-for-ai-focused-altcoin-updates-outlook-on-chainlink/