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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/link-price-analysis-will-link-cross-the-supply-barrier-at-12/">LINK Price Analysis: Will LINK Cross The Supply Barrier At $12?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With Bitcoin stabilising close to the $34K mark, the overhead rejection at $35K brings an abrupt halt in the booming altcoin market. Altcoins like LINK display a price trend, losing momentum as it approaches the next resistance level.&nbsp; 
With the recent trendline breakout rally approaching the $12 mark, the <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/">LINK price prediction</a> suggests a potential rally continuation.&nbsp; 
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 <img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22-1024x481.png" alt="" class="wp-image-240166" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123336/LINKUSD_2023-10-28_11-25-22.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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Ending the long-term streak of downtrend continuation, the LINK price showcases a breakout rally with high momentum. With a spark of 58% in the last ten days, the Chainlink token price skyrockets from $7.2 to $11.54.&nbsp; 
The breakout rally finds high sentiments in the crypto market due to trending Bitcoin Spot ETF approval hype. However, with clarifications taking a long, the Uptober spirits decline, and the buying pressure subsides.&nbsp; 
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 <img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46-1024x481.png" alt="" class="wp-image-240167" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/28123340/LINKUSD_2023-10-28_12-10-46.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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In the LINK Price weekly chart, the breakout rally shows solid bullish momentum with strong bullish candles ready to permeate the $12 resistance. Moreover, the improving market conditions will help boost the altcoin market, and LINK holders will gain confidence.&nbsp; 
Technical indicators: 
EMA: The positive trend in the 50-day and 200-day EMA projects a high possibility of an uptrend continuation. Moreover, the rising average lines will provide a bullish cushion during short correction phases.&nbsp;&nbsp; 
MACD indicator: The MACD indicator shows a bullish crossover gaining spread in the weekly chart. With high rise bullish histogram increasing, the underlying demand for LINK price increases.&nbsp; 
<h2 class="wp-block-heading" id="h-will-link-price-reach-12">Will LINK Price Reach $12?</h2> 
As the overall trend remains positive for Chainlink, the buyers continue to line up for the altcoin and improve the prolonged uptrend chances. However, the $12 resistance remains a sharp obstacle in the bullish trend. If the uptrend manages to exceed the $12 mark, the rising demand can push the market value to the $15 mark.&nbsp; 
However, a reversal from $12 can result in a retest of the $10 mark.

LINK Price Analysis: Will LINK Cross The Supply Barrier At $12?

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