Over $300M in Crypto Longs Liquidated in 1 Hour, But Crypto Analysts Believe Chainlink and Cardano Will Outperform the Market

As the entire crypto market headed south on Sunday evening, over $300 million in crypto long positions were liquidated. Despite the sharp market-wide decline, analysts have picked Chainlink and Cardano as two altcoins that are poised to rally and outperform other cryptos.

Chainlink, which recently partnered with SBI Group, is expected to score a new all-time high above $100 in this bull cycle. Meanwhile, Cardano, which has struggled around the $1 resistance level, is expected to return to its 2021 high in this bull cycle.

Chainlink Partners With SBI Group, LINK Expected To Explode Soon

Chainlink and SBI Group, one of Japan’s most recognizable financial giants with total assets of more than $200 billion, have announced a strategic partnership. The partnership aims at moving towards blockchain and digital asset adoption at a faster rate across global markets.

The duo will also enable use cases with Chainlink Cross-Chain Interoperability Protocol (CCIP) regarding tokenized RWA, tokenized funds, and regulated stablecoins, most likely starting in Japan. With Chainlink leading the tokenization trend, analysts expect the LINK price to explode soon.

While the $LINK price continues to hold above the $25 support, CryptoGoos has said that the next Chainlink wave is starting soon. According to his Chainlink price prediction, the first target is around the $34 price level. 

Captain Faibik shares the same sentiment, saying that he still holds $LINK and will keep adding more of the tokens for the long term. The analyst shared a Chainlink price chart that shows LINK now trading above a triangle pattern.

With this breakout, the analyst expects the Chainlink price to increase by as much as 743.9% from its current range. Based on this prediction, the $LINK price could reach $187.5 by 2026.

Cardano (ADA) Breakout Expected Soon, Analysts Set Potential Targets

After months of sideways action, the Cardano price is finally showing bullish signals that have traders excited about a potential breakout. On Sunday, the Cardano price broke above the $0.95 level before retracing back to the $0.8800 range.

Trader @Av_Sebastian has been monitoring the same setup, and the technicals are quite simple: ADA is trading in a classic bull flag. According to the analyst, a breakout from this bull flag will send the Cardano price as high as $1.20 in the short term. For the long term, the Cardano price is expected to rise even higher.

@TheLongInvest has shared a long-term perspective, which shows that Cardano is close to repeating a 2021 rally. According to the analyst, it is “criminally easy” for the Cardano price to return to its 2021 all-time high at $3.173.

The Cardano founder, Charles Hoskinson, has identified particular sparks that could propel the ADA price higher. The impending introduction of Midnight Network is expected to fulfill privacy shortfalls in the existing Cardano network system. 

A second major launch that could fuel the price increase of Cardano is the collaboration with BitcoinOS. This onboarding will enable Bitcoin owners to earn income using the infrastructure of Cardano and thereby bring substantial capital inflows.