Chainlink

Rekt

<p><strong><a href="https://captainaltcoin.com/chainlink-link-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Chainlink (LINK)</a>, the decentralized oracle network that provides real-world data to blockchain networks, has seen volatility in its price over the past months. The coin is currently trading around $7.7 mark.</strong></p> 
<p>However, according to widely-followed crypto analyst Rekt Capital, LINK may be positioning itself for a major breakout.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="724" src="https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-1024x724.png" alt="" class="wp-image-345679" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-1024x724.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-767x542.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-1536x1086.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-2048x1448.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-495x350.png 495w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1-788x557.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-1.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>Rekt Capital notes that after following a downtrend (depicted in red), LINK strongly rebounded from its range low. This was followed by an impressive 44% rally as LINK revisited its range high resistance. Although LINK has not yet broken out from this long-term macro range, it is attempting to close weekly above the macro downtrend line. </p> 
<p>If LINK can close above this downtrend on the weekly timeframe, Rekt Capital suggests it could set up a retest of the line as support. A successful retest of the downtrend would likely propel LINK to revisit the macro range high once again. But a confirmed breakout from the range would only come if LINK could close above the range high and then retest it as support.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="687" src="https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-1024x687.png" alt="" class="wp-image-345687" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-1024x687.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-767x515.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-1536x1031.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-2048x1374.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2-788x528.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/LINK-CHART-2.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>In summary, while still constrained by resistance, LINK’s recent price action indicates it is positioning for an eventual breakout. Rekt Capital and other analysts are closely watching to see if LINK can close above key levels that would pave the way to testing the top of its multi-month trading range. A break from this range could signal a new bullish trend for the LINK price.</p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"> <strong>74% of retail CFD accounts lose money.</strong> 
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc"> <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc. 
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/chainlinks-link-price-positioning-to-take-another-shot-at-range-high-after-rebound/">Chainlink’s LINK Price Positioning to Take Another Shot at Range High After Rebound</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Chainlink’s LINK Price Positioning to Take Another Shot at Range High After Rebound

Table of Contents

CaptainAltcoin

Other articles published on Sep 29, 2023

Bank of France’s Project Mariana: A Deep Dive into CBDCs and DeFi Integration

Valkyrie Wins Approval To Add Ethereum Futures To Bitcoin Strategy ETF

Analyst Sheds Light on Cardano's Next Move: Breakout or Sideways Momentum?

Crypto Analyst Reveals His Bitcoin (BTC) and Ethereum (ETH) Trading Strategy That Won’t ‘Reach th...

Su Zhu arrested in Singapore; Kyle Davies wanted by authorities

Crypto mogul Su Zhu arrested trying to flee Singapore after being sentenced to prison

Join our free newsletter for daily crypto updates!