A widely followed crypto analyst says the decentralized oracle network Chainlink (LINK) may be at the start of a new uptrend.

Michaël van de Poppe tells his 781,500 followers on the social media platform X that LINK is starting to break out against Bitcoin (LINK/BTC) on the weekly chart.

“Slowly, but surely, LINK starts to wake up strongly. I assume we’ll have the next leg upwards to be higher and that the bull for Chainlink has begun.”

Looking at his chart, the trader suggests that LINK may rally to 0.0007950 BTC ($69.15).

LINK/BTC is trading for 0.0001793 BTC ($15.57) at time of writing, up 1.53% in the last 24 hours.

Next up, the analyst says that Bitcoin is holding an ascending trendline as support and may soon hit $94,000 if BTC can break through resistance at the $87,000 level.

“The trend is still great on Bitcoin and it looks to be that we’re going to be breaking upwards to $90,000.”

Bitcoin is trading at $86,903 at time of writing, flat on the day.

Lastly, the trader is predicting Ethereum (ETH) will break through resistance at $2,090 and continue to rally beyond $2,150 after plummeting into the $1,700 range earlier this month.

“Really looking forward to the speed of the breakout above $2,150 for ETH.”

ETH is trading for $2,005 at time of writing, flat on the day.