2024

Strong

Momentum

Chainlink

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-link-shows-strong-momentum-for-2024-with-promising-trends/" data-wpel-link="internal">Chainlink (LINK) Shows Strong Momentum for 2024 with Promising Trends</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/chainlink-link-prepares-for-a-potential-explosion-according-to-analyst/" data-wpel-link="internal">Chainlink</a></strong> price is showing significant momentum, indicating a strong and promising trend for the cryptocurrency in 2024. After initially experiencing a sharp decline that revisited the critical support levels around $14.00, Chainlink (LINK) is now showing signs of a strong recovery. The cryptocurrency has reclaimed a significant portion of its previous losses and has demonstrated remarkable resilience.</p> 
<h2 id="significant-formation-in-chainlink">Significant Formation in Chainlink</h2> 
<p style="text-align: justify">Since November 21, the price of LINK has been trading within a consistently rising parallel channel pattern, achieving an impressive gain of over 150% last year. This trajectory underscores the cryptocurrency’s robustness in a fluctuating market. <strong>Chainlink</strong> price has seen an increase of approximately 2.78% in the last 24 hours, trading at $14.51. LINK’s market value exceeding $8.25 billion solidifies its position among the top 20 cryptocurrencies by market capitalization.</p> 
<p style="text-align: justify">Chainlink was one of the first movers in the cryptocurrency market cycle and initiated a notable uptrend in October after breaking free from a decreasing resistance trend line. This rise led to a new peak of $17.67 at the end of December 2023. However, after this peak, the <strong>LINK</strong> price experienced a decline, accelerating last week to as low as $12.20. Nevertheless, with just a few days left to the weekly close, it regained stability by forming a long lower wick.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-298324 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/link.webp" alt="" width="1536" height="807"></p> 
<h2 id="65-increase-expected-in-link">65% Increase Expected in LINK</h2> 
<p style="text-align: justify">Cryptocurrency experts and analysts have expressed bullish expectations for the future trajectory of <strong>LINK</strong>. For instance, The CryptoBull draws parallels between LINK’s movement and Ethereum’s 2020 pattern, indicating a potential rise above $250. If LINK breaks out of its current channel, it could target a rise towards $23.60, which would mean a 65% increase from its current price.</p> 
<p style="text-align: justify">However, it is important to remember that a daily close below the support trend line of the channel could trigger a drop to $12.50. LINK’s price is currently trading above the 50 Simple Moving Average (SMA) and 200-SMA, and the Relative Strength Index (RSI) is at a neutral level of 46.25. This situation could indicate a potential breakout in either direction if the bullish momentum continues, possibly leading to an overbought condition.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/chainlink-link-shows-strong-momentum-for-2024-with-promising-trends/" data-wpel-link="internal">Chainlink (LINK) Shows Strong Momentum for 2024 with Promising Trends</a></h5>

Chainlink (LINK) Shows Strong Momentum for 2024 with Promising Trends

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