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A prominent crypto analyst has identified a mid-cap altcoin that could potentially replicate Chainlink’s (LINK) explosive rally during the 2020 bull market. The analyst, known as INMORTAL, has expressed strong optimism for Mantle (MNT), the native asset of the layer-2 scaling solution Mantle.
With over 231,800 followers on the social media platform X, INMORTAL shared his bullish outlook, drawing parallels between MNT’s current price action and Chainlink’s consolidation phase from 2019 to 2020. During that period, LINK surged from a low of $1.36 to a high of $53, marking an astonishing 3,797% increase.
“MNT gives me early LINK vibes,” INMORTAL stated. “Many people think the bull market is over, but there are coins like Mantle that haven’t even started it yet. Conviction play for me.”
Based on INMORTAL‘s chart analysis, MNT could potentially rise to $6 by next year. At the time of writing, MNT is trading at $0.66.
Shifting focus to Bitcoin, INMORTAL highlighted a critical price level that could determine whether the cryptocurrency will see new lows in this cycle. He suggested that BTC might follow a similar pattern to its 2022 price action, where it briefly surged above $45,000 before plummeting to a bear market low of $16,000.
However, INMORTAL emphasized that the bearish scenario would be invalidated if Bitcoin manages to flip a key price level as support. “$95,000 is where we find out if this bounce is a: a) Last exit before new lows, or b) Local bottom,” he explained.
At the time of writing, Bitcoin is valued at $87,355.
Sources: INMORTAL/X, INMORTAL/X
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