Chainlink Price Analysis Shows Potential Rally After Retracement
The post Chainlink Price Analysis Shows Potential Rally After Retracement appeared on BitcoinEthereumNews.com. Chainlink (LINK) has faced a notable 10% decline over the past 24 hours, with the price currently hovering around $23.40. Analysts, including Ali, suggest that LINK might experience a brief dip before rallying toward $100. His analysis shows a multi-year symmetrical triangle pattern, with breakout targets at $31, $52, and $98, following a possible pullback to the $21–$22 support. Despite short-term volatility, the long-term outlook for Chainlink remains bullish, driven by a strong technical setup. However, with the asset currently struggling to break past long-term resistance, market participants are advised to watch key levels for signs of stability or further downward pressure in the coming hours. Symmetrical Triangle Formation and Price Testing Resistance Analyst Ali has shared insights on Chainlink (LINK) with a price analysis suggesting that the cryptocurrency may experience a brief dip before moving toward a stronger rally. According to Ali’s chart, LINK is currently testing the upper resistance trendline of a multi-year symmetrical triangle. This pattern indicates that the price is approaching a decisive move, but the analyst expects a brief retracement before a breakout. LINKUSD Chart | Source:x Symmetrical triangles are known to indicate that the price will likely make a larger move after consolidating between the support and resistance lines. The market is watching to see if LINK can push through this upper trendline to confirm the expected breakout. If the price moves below support, there may be another opportunity for a dip before a surge occurs. Fibonacci Extensions and Price Targets The Fibonacci extension levels on Ali’s chart show potential upside targets for LINK once it breaks through the current resistance. After a possible pullback to the $21–$22 support zone, the price could rally higher, reaching price targets at $31, $52, and ultimately around $98. These levels suggest a strong rally potential for LINK,…
The post Chainlink Price Analysis Shows Potential Rally After Retracement appeared on BitcoinEthereumNews.com.
Chainlink (LINK) has faced a notable 10% decline over the past 24 hours, with the price currently hovering around $23.40. Analysts, including Ali, suggest that LINK might experience a brief dip before rallying toward $100. His analysis shows a multi-year symmetrical triangle pattern, with breakout targets at $31, $52, and $98, following a possible pullback to the $21–$22 support. Despite short-term volatility, the long-term outlook for Chainlink remains bullish, driven by a strong technical setup. However, with the asset currently struggling to break past long-term resistance, market participants are advised to watch key levels for signs of stability or further downward pressure in the coming hours. Symmetrical Triangle Formation and Price Testing Resistance Analyst Ali has shared insights on Chainlink (LINK) with a price analysis suggesting that the cryptocurrency may experience a brief dip before moving toward a stronger rally. According to Ali’s chart, LINK is currently testing the upper resistance trendline of a multi-year symmetrical triangle. This pattern indicates that the price is approaching a decisive move, but the analyst expects a brief retracement before a breakout. LINKUSD Chart | Source:x Symmetrical triangles are known to indicate that the price will likely make a larger move after consolidating between the support and resistance lines. The market is watching to see if LINK can push through this upper trendline to confirm the expected breakout. If the price moves below support, there may be another opportunity for a dip before a surge occurs. Fibonacci Extensions and Price Targets The Fibonacci extension levels on Ali’s chart show potential upside targets for LINK once it breaks through the current resistance. After a possible pullback to the $21–$22 support zone, the price could rally higher, reaching price targets at $31, $52, and ultimately around $98. These levels suggest a strong rally potential for LINK,…
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