Analyst shared LINK, BTC and OP expectations

Crypto trader Ali Martinez shared his comments about the lockchain oracle services provider Chainlink. Martinez said that Chainlink (LINK) could drop as much as 50% from its current price.

Chainlink: Unlike the June correction, where whale transactions and assets rose as prices fell, this time we see whale transactions falling and holdings stable. This is not good! If LINK breaks below the $5 support level, it could correct to $4 or even $3.

According to his chart, at least $1 million worth of whale transactions on LINK since May 19 reached nearly 20 per day by the end of July. In the last days of August, transactions fell below 10 and almost zeroed on August 31.

The potential LINK Coin drop wouldn’t be surprising as altcoins wink at new ATL levels. However, if the BTC price drops, this time the door may be opened to large sales across the market. Expert crypto commentator Ali Martinez draws attention to critical support and warns that a 10 percent drop may be experienced for BTC.

Bitcoin: On-chain data shows that BTC lacks support below $25,400. There is no strong support level where the price could hold up to $23,340 and there could be a 10% loss.

At the time of writing, BTC price was watching close to the support area that Matinez pointed out. Many experts, including Rekt Capital, are talking about the possibility of continuing sales up to $23,500 and $22,000. They were also voicing this situation when the BTC price exceeded $ 28,000.

Finally, the analyst warned that Optimism, one of the Ethereum (ETH) layer2 solutions, is trading in a bear flag formation. If the current pattern works correctly, we can see that the OP Token price also experienced a sharp drop to $ 0.71.