David

Bitcoin

Tornado Cash

Chainlink

Tornado

<p>In the midst of Bitcoin’s surging momentum, Chainlink (LINK) is undergoing a consolidation phase, as <a href="https://twitter.com/upsidedowndata/status/1732060220979888276" target="_blank" rel="noopener noreferrer nofollow">highlighted </a>by Upside Down Crypto Data. Contrary to viewing this as a setback, the consolidation is seen as a positive development. According to the short-term UDPI risk model, LINK’s short-term risk is gradually cooling off during this phase of consolidation.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="691" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-1024x691.png" alt="" class="wp-image-392392" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-1024x691.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-300x203.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-767x518.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-1536x1037.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-2048x1382.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-222x150.png 222w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-519x350.png 519w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122-788x531.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-122.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>As risk levels subside, the potential for upside movement in LINK increases, setting the stage for a more robust performance in its next rally. The strategic consolidation is deemed favorable, allowing the cryptocurrency to build resilience and gather momentum for future upward movements.</p>
<p>On-chain analyst David echoes the optimistic sentiment, <a href="https://twitter.com/DavidOnCrypto_/status/1731961395049087484" target="_blank" rel="noopener noreferrer nofollow">citing </a>a remarkable +243% surge in Chainlink’s value, propelling it to $16+ since his bottom call in June. Despite this substantial appreciation, David emphasizes that the LINK weekly chart remains bullish, projecting a further move into the $20s.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="583" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-1024x583.png" alt="" class="wp-image-392384" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-1024x583.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-300x171.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-768x437.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-1536x874.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-2048x1166.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-264x150.png 264w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-615x350.png 615w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121-788x448.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-121.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Dispelling notions of a potential dip below $8 as a psychological operation (Psyop), David underscores the robust position of Chainlink in the market. The analyst’s confidence in LINK’s weekly outlook reflects a bullish stance, anticipating sustained positive momentum in the coming weeks.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/analyst-unveils-weekly-crypto-watchlist-as-bitcoin-surges-sol-matic-and-lunc-take-center-stage/" target="_blank" rel="noopener noreferrer nofollow">Analyst Unveils Weekly Crypto Watchlist As Bitcoin Surges: SOL, MATIC, and LUNC Take Center Stage</a></li>
 <li><a href="https://captainaltcoin.com/bitcoin-btc-bubble-or-bull-run-interpreting-the-mixed-crypto-market-signals/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) bubble or Bull Run? Interpreting the Mixed Crypto Market Signals</a></li>
 <li><a href="https://captainaltcoin.com/tornado-cash-dips-56-post-binance-delist-investors-shift-from-render-to-this-new-ai-altcoin/" target="_blank" rel="noopener noreferrer nofollow">Tornado Cash Dips 56% Post-Binance Delist; Investors Shift from Render to this New AI Altcoin</a></li>
</ul>
<p>Investors and enthusiasts alike are closely monitoring Chainlink’s trajectory, with the cryptocurrency poised for potential gains as it consolidates amidst the broader market dynamics.</p>
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<p>The post <a href="https://captainaltcoin.com/chainlink-consolidates-amid-bitcoin-rally-analyst-predicts-link-surge-to-reach-this-price/" rel="noopener noreferrer nofollow">Chainlink Consolidates Amid Bitcoin Rally; Analyst Predicts LINK Surge to Reach This Price</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Chainlink Consolidates Amid Bitcoin Rally; Analyst Predicts LINK Surge to Reach This Price

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