Chainlink Price Prediction As Chart Pattern Hints 20% Breakout Rally Ahead
The post Chainlink Price Prediction As Chart Pattern Hints 20% Breakout Rally Ahead appeared on BitcoinEthereumNews.com.
Chainlink Price Prediction: A potential breakout from the rising channel pattern could trigger a direction rally in LINK Price Published 11 hours ago Chainlink Price Prediction: Amid the rising selling pressure in the crypto market, the Chainlink price has recently reverted from the resistance trendline of a channel pattern, falling 13.5% in the last three days to trade at $15.3. While the short-term trend in the market remains uncertain, this channel pattern has assisted LINK price to sustain higher levels with dynamic resistance and support trendline. Here’s how this pattern may influence the new future trend of this asset. Also Read: Top Crypto Analyst Compares Investment Potentials Of Bitcoin (BTC) & Ethereum (ETH) Will Chainlink Price Regain $20 Mark? A channel pattern in the daily chart prevents the LINK price from a major correction. A break above the overhead trendline will intensify the buying momentum The intraday trading volume in the LINK coin is $449 Million, indicating a 33% loss. Chainlink Price Prediction| TradingView Chart Amid the general bullish sentiment in the crypto market, the Chainlink coin price projected its sustainability above the $7 mark and initiated an aggressive recovery in late October. This rally assisted the buyers to escape a 20-month accumulation phase marked by a green rectangle and surged nearly 148% to mark a new yearly high at $17.67. With the current market uncertainty, the LINK recovery momentum has weakened and pushed the trend projection sideways to trade within a channel pattern. Recent insights from Lookonchain have revealed notable acquisition trends among major holders within the Chainlink [LINK] network. transferring a total of 417,834 LINK out of Binance over the past 48 hours. This move by a large holder suggests a strong confidence in the potential for this asset to continue its upward trend. Thus, a possible upside…
Filed under: News - @ December 31, 2023 2:26 am