Chainlink Price Eyes $22 After Bullish Breakout Above Downtrend Line
The post Chainlink Price Eyes $22 After Bullish Breakout Above Downtrend Line appeared on BitcoinEthereumNews.com. Chainlink (LINK) has emerged from a prolonged consolidation phase with a decisive breakout above its descending resistance. The move has captured market attention, positioning the token for a potential test of the $22 zone if current momentum persists. Analysts highlight growing buyer strength and consistent capital inflows as signals of a continued bullish trajectory. As LINK stabilizes above critical support levels, the price structure presents opportunities for further gains. The daily LINK/USDT chart shared by Crypto Feras outlines a clear technical shift after the token pushed above a long-standing descending resistance trendline. This pattern, supported by higher lows near the $10.50 support level, reflects strengthening bullish sentiment. The breakout brought LINK into the $15.80–$16.00 range, setting its sights on the next key resistance at $17.40. According to Crypto Feras, this level serves as a pivotal marker; a clean break above could lead the asset toward a target near $22.00, based on historical price zones and volume profile indicators. Source: X Price structure confirms a higher-high formation, validating the breakout as more than a temporary spike. However, caution remains in place as a failure to reclaim and hold $17.40 could signal exhaustion. Traders are closely watching for a successful retest and confirmation candle to support further entries. As long as LINK sustains above the new trendline support, the short-to-mid-term structure remains intact. 24-Hour Data Shows Resilient Recovery Amid Fluctuations BraveNewCoin data for the 24-hour trading period between July 12 and July 13 shows a moderate gain of 0.05%, with LINK ending the session at $15.31. The price recovered from an intraday low of $14.70 after an early dip and held above $15.00 for the remainder of the day. This rebound, though modest, occurred without any abrupt volume spikes, pointing to a steady demand profile. LINK’s market capitalization currently sits at approximately…
The post Chainlink Price Eyes $22 After Bullish Breakout Above Downtrend Line appeared on BitcoinEthereumNews.com.
Chainlink (LINK) has emerged from a prolonged consolidation phase with a decisive breakout above its descending resistance. The move has captured market attention, positioning the token for a potential test of the $22 zone if current momentum persists. Analysts highlight growing buyer strength and consistent capital inflows as signals of a continued bullish trajectory. As LINK stabilizes above critical support levels, the price structure presents opportunities for further gains. The daily LINK/USDT chart shared by Crypto Feras outlines a clear technical shift after the token pushed above a long-standing descending resistance trendline. This pattern, supported by higher lows near the $10.50 support level, reflects strengthening bullish sentiment. The breakout brought LINK into the $15.80–$16.00 range, setting its sights on the next key resistance at $17.40. According to Crypto Feras, this level serves as a pivotal marker; a clean break above could lead the asset toward a target near $22.00, based on historical price zones and volume profile indicators. Source: X Price structure confirms a higher-high formation, validating the breakout as more than a temporary spike. However, caution remains in place as a failure to reclaim and hold $17.40 could signal exhaustion. Traders are closely watching for a successful retest and confirmation candle to support further entries. As long as LINK sustains above the new trendline support, the short-to-mid-term structure remains intact. 24-Hour Data Shows Resilient Recovery Amid Fluctuations BraveNewCoin data for the 24-hour trading period between July 12 and July 13 shows a moderate gain of 0.05%, with LINK ending the session at $15.31. The price recovered from an intraday low of $14.70 after an early dip and held above $15.00 for the remainder of the day. This rebound, though modest, occurred without any abrupt volume spikes, pointing to a steady demand profile. LINK’s market capitalization currently sits at approximately…
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