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Chainlink

Tellor

<p>According to crypto trader <a href="https://twitter.com/ali_charts/status/1719241008641171503" target="_blank" rel="noreferrer noopener nofollow">Ali</a>, Chainlink looks poised for additional gains in the near term after breaking out of an ascending triangle pattern on its hourly chart. Technical analysis by research firm altFINS suggests this bullish formation points to a 14% move higher for Chainlink’s LINK token toward the key $13 resistance level.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="778" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-1024x778.png" alt="" class="wp-image-367308" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-1024x778.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-300x228.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-767x583.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-1536x1167.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-2048x1556.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-197x150.png 197w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-100x76.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-461x350.png 461w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769-788x598.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-769.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>altFINS highlights the clear uptrend Chainlink has been in across all timeframes, a trend it has ridden higher as a recent top altcoin pick with a 60% return since August. As a leading decentralized oracle network, Chainlink stands to benefit from the long-term adoption of real-world asset tokenization.</p> 
<p>The breakback above Chainlink’s 200-day moving average around $6.70 was a bullish catalyst, helping drive the rally past altFINS’ initial $9.50 target. However, the sharp surge has left Chainlink extremely overbought, with its RSI exceeding 80. This raises the likelihood of consolidation and profit-taking in the near term.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-1024x573.png" alt="" class="wp-image-367316" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-770-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p>altFINS suggests any pullbacks could find buyers around $9.50, the 50% Fibonacci retracement level of the latest push higher. This lines up with previous resistance-turned-support. Below that, the 38.2% and 23.6% Fib levels at $10 and $10.75 appear likely support zones if the overbought cooldown deepens.</p> 
<p>But while momentum oscillators are flashing warning signs of being overextended, the underlying uptrend remains firmly intact across all timeframes.</p> 
<p>Read also:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/are-trb-whales-stockpiling-large-exchange-withdrawals-precede-43-tellor-pump/" target="_blank" rel="noreferrer noopener">Are TRB Whales Stockpiling? Large Exchange Withdrawals Precede 43% Tellor Pump</a></li> 
 <li><a href="https://captainaltcoin.com/top-5-cryptocurrencies-with-potential-to-outperform-bitcoin/" target="_blank" rel="noreferrer noopener">Top 5 Cryptocurrencies with Potential to Outperform Bitcoin</a></li> 
 <li><a href="https://captainaltcoin.com/rollbit-rlb-surges-to-new-highs-as-analysts-eye-potential-rally-to-1-but-theres-a-catch/" target="_blank" rel="noreferrer noopener">Rollbit (RLB) Surges to New Highs as Analysts Eye Potential Rally to $1, but There’s a Catch</a></li> 
</ul> 
<p>As such, altFINS believes Chainlink’s technical profile remains constructive overall, with any consolidation setting the stage for a rebound towards the next target of $13. Traders may look to build positions on pullbacks given the bullish backdrop.</p> 
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<p>The post <a href="https://captainaltcoin.com/chainlink-breaks-ascending-triangle-analyst-predicts-link-to-reach-13/">Chainlink Breaks Ascending Triangle, Analyst Predicts LINK to Reach $13</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Chainlink Breaks Ascending Triangle, Analyst Predicts LINK to Reach $13

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