Cryptocurrency analyst Michael van de Poppe commented on the recent correction, saying that Chainlink (LINK) has fallen below $ 4.06- $ 4.15 after rising to $ 4.92.
Analyst Michael van de Poppe, also known as ‘Crypto Michael’, expressed his views on Chainlink falling from $ 4.92 to $ 4.50, where it is currently trading.
Not unhealthy to have a retrace on $LINK after that run up.
However, you don't want to see it drop below $4.06-4.15, I think.
That's the previous resistance level ready to flip for support.
Holding that = likely continuation up. pic.twitter.com/ooqDUCades
— Crypto Michaël (@CryptoMichNL) June 29, 2020
Describing this retreat unhealthy after the previous increase, the analyst warned that if the $ 4.06-4.15 regions are seen, there will be bigger problems. However, according to the analyst, the fact that the prices remain above the mentioned levels may enable the rise to continue.
Chainlink announced that it has started to be used in a regional area in South Korea. Chainlink will be used to find and verify patients’ non-chain health data. This use case will allow doctors and patients to easily manage and share clinical records. These statements are believed to be a reason for LINK’s recent rise.