Chainlink (LINK) has left its bear market behind, according to analyst Michaël van de Poppe, who now expects a run toward $11. The token trades at $9.35, up 6.2% for the day.

The Dutch analyst points to higher highs and higher lows across the LINK chart. Meanwhile, Bitcoin sits in a quiet range, giving traders very little direction.

Chainlink Bull Market Case Rests on the $10.87 Barrier

Van de Poppe’s three-day Binance chart shows LINK closing a candle at $9.33 for a 4.98% gain. That candle opened at $8.887 and reached a high of $9.746.

The rally has run for four straight sessions since August 11. LINK has climbed 12.3% over the past seven days and holds a $6.97 billion market cap, ranking 17th.

Michaël van de Poppe put the shift plainly in a post on X.

“It’s no bear market anymore for $LINK.”

A rising trendline connects the lows since the spring selloff. Price now sits above that line, which supports the uptrend read.

Two resistance bands sit overhead. The first runs near $10.87, while the second waits around $14.42. His $11 target therefore sits just above the first band. Momentum on the lower oscillator has flipped positive after months below zero.

Relative strength against Bitcoin strengthens the argument. LINK has printed higher highs and higher lows on that pair for weeks. Van de Poppe reads this pattern as a fresh macro uptrend rather than a relief bounce.

Institutional demand adds weight to the setup. Daily whale transactions hit a five-month high this week after Standard Chartered set a $200 long-term target.

The token also leads several real-world asset rankings, which strengthens the fundamental case. However, a close back under the trendline near $8.70 would break the structure entirely.

BTC Keeps a Lid on the LINK Rally

Bitcoin tells a duller story. BTC trades at $62,968, down 3.1% over the past seven days.

Van de Poppe marks repeated sweeps of the lows on his daily chart. Those sweeps already cleared long-side liquidity, and buyers keep defending the zone.

Supports now range between $ 58,115 and $ 62,275. Above spot, he flags $65,800 as the first hurdle and a heavier band near $73,674. Short-side liquidity sits above the market. Consequently, a squeeze into that pocket could trigger the next leg higher.

The analyst sees no reason to overtrade such a narrow range. Instead, he recommends steady accumulation for a multi-year hold. He also argues that every push higher raises the odds that the bottom has already formed. That reading fits a market where sellers no longer force lower lows.

Other analysts still debate how the current downturn will resolve. Some warn about a slide toward $50,000 driven by yen volatility.

Altcoins usually need Bitcoin to settle before they run. Recent dominance data suggests that rotation may have already started.

So LINK holds the stronger chart, yet Bitcoin still controls the timing.

Source: BeInCrypto