Cryptocurrency

Bitcoin ETF

Bitcoin

Chainlink

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 <p class="paragraph">Along with altcoins, Chainlink (LINK) experienced substantial gains in the past few weeks. Bitcoin’s (BTC) recent rise to the $38,000 mark, spearheaded this rally amid optimistic expectations of regulatory approval for a spot BTC exchange-traded fund (ETF).&nbsp;</p>
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 <p class="paragraph">However, LINK retraced some gains when a piece of fake news falsely suggested the registration of a BlackRock XRP trust, dampening the broader market rally.&nbsp;</p>
 <p class="paragraph">Despite this setback, technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) of Chainlink’s chart still generates optimistic signals. Notably, a prominent crypto analyst highlighted the potential for significant gains if LINK successfully breaks out from its current <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> chart pattern.</p>
 <h2 class="wp-block-heading" id="h-link-could-hit-20-analyst-says">LINK could hit $20, analyst says</h2>
 <p class="paragraph">On Monday, November 20, widely followed cryptocurrency expert Ali Martinez shared a Chainlink chart, which demonstrates that the altcoin may be eyeing a <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a> from a bull flag formation.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/ZtXnwiCn5Am-8s4xIVVjL5lfACQhzLcu0CbTbgCCbHRU2zZsGa8z7NYx1-0FmDnD3Cx3TP4w3LCP_WIJNTfcFM5hB-eKDqPvqXdnb9huzWaHHcUdTo9wEvgpmKzUUAcAB7pJSVELLW0F6zpT9f19Fus" alt>
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   Chainlink bull flag. Source: Ali Martinez
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 <p class="paragraph">In his <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, Martinez said LINK could retest the <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a> zone around the $14 mark before it “marches toward $20” – a level not seen since January 2022.&nbsp;</p>
 <p class="paragraph">A leap toward that threshold would represent a gain of more than 40% for the crypto asset.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-link-price-analysis">LINK price analysis</h2>
 <p class="paragraph">Chainlink was trading at $14.28 at the time of publication, down 5.3% on the day.</p>
 <p class="paragraph">The cryptocurrency’s price remained relatively flat over the past week, while its monthly performance boasts an impressive surge of 76%, elevating its market cap from $5.15 billion to $7.95 billion.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/ejbjsNTvNMgfpAzisu6zcNvrWCsMsyGarx_oPkeD1iJmnsUO2BHimiDs7FiOy4nYQy5Fvzj9O52VwtabjeMd2A_atGOtXRQOoqXs0Gw6WaID6nf_cWFeXP9cGGOYdbIeXVUaClQUid1y3YxVDX_Awjo" alt>
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   LINK 1-month price chart. Source: Finbold
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 <p class="paragraph">Over that 30-day period, the cryptocurrency has seen 19 green days, accounting for a substantial 63%. Additionally, LINK boasts high liquidity, evident from its significant valuation.&nbsp;</p>
 <p class="paragraph">The altcoin has exhibited an outstanding performance over the past year, with its price surging by an impressive 149%. Notably, LINK has outperformed 85% of the top 100 crypto assets during this period, surpassing even the benchmarks of Bitcoin and Ethereum (ETH). Its current position above the 200-day simple moving average (MA) reflects its sustained positive momentum.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/chainlink-eyes-a-bullish-breakout-can-link-reach-20-tbt71083.html">https://thebittimes.com/chainlink-eyes-a-bullish-breakout-can-link-reach-20-tbt71083.html</a></p>

Chainlink eyes a bullish breakout; Can LINK reach $20?

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TheBitTimes

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