Bitcoin

Sherpa

Chainlink

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-chainlink-price-fluctuations-an-analysis/" data-wpel-link="internal">Bitcoin and Chainlink Price Fluctuations: An Analysis</a> 
Bitcoin price continues to fluctuate, turning downward to $41,800 with the opening of the U.S. market. Investors are hopeful for further increases as the $40,400 region has been maintained weekly. So, what is the current situation specifically for Chainlink? What awaits LINK Coin investors? 
<h2 id="link-coin">LINK Coin</h2> 
Since July of last year, the price of LINK Coin has been rising, and the upward movement increased in October with <a href="https://newslinker.co/" data-wpel-link="exclude">news</a> from Swift. The price experienced a rapid recovery period as a result of the strong potential in the RWA area established from the resistance trend line. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-308728 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/LINK-Coin-Fiyat-29-Ocak.png" alt="" width="1888" height="773"> 
In the last week of December, the price of LINK reached its 2023 peak at $17.68. This exciting journey ended with two long upper wicks and confirmation of the long-term horizontal resistance area. The weekly RSI also confirms this negative outlook, and the negative divergence in the RSI is still strong. Due to these two bearish signals, LINK Coin investors are less demanding these days. 
<h2 id="link-coin-price-prediction">LINK Coin Price Prediction</h2> 
If we look at the experts’ opinions, <a href="https://en.coin-turk.com/where-to-buy-dogecoin/" data-wpel-link="internal">Altcoin</a> Sherpa wrote that we will see an upward movement after the current consolidation ends. InmortalCrypto heralds a similar accumulation period followed by an upward move, while Michael Poppe directly points to a $25 target. 
On the daily chart, we see that the price of LINK Coin has been fluctuating between $13.3 and $16.6 for 82 days. The boundaries of this horizontal range have been confirmed several times, most recently on January 20th. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-308729 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/LINK-Coin-29-Ocak-.png" alt="" width="1888" height="773"> 
The daily RSI is in the neutral zone, and there is concern that it may act as resistance. Elliot wave counting suggests that the price of LINK Coin could decline. As with most altcoins, the most likely count indicates that LINK Coin is in the fourth wave of a five-wave upward movement. 
If we give a 1:1 ratio to the A:C waves, we can see that the expected decline is to $11.4. Despite this bearish LINK price prediction, if the resistance level of the narrow price range, namely the $16.6 region, can be exceeded, investors may see the price climb to the next resistance at $19.3. 
Of course, cryptocurrencies are unpredictable, and technical analysis does not tell you the future. What is important here is how BTC’s price performance and the mood of the markets will steer sentiment. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-chainlink-price-fluctuations-an-analysis/" data-wpel-link="internal">Bitcoin and Chainlink Price Fluctuations: An Analysis</a></h5>

Bitcoin and Chainlink Price Fluctuations: An Analysis

Table of Contents

COINTURK NEWS

Other articles published on Jan 29, 2024

Signs of market stabilization in GBTC as outflows slow, according to JPMorgan

Solana Mobile Activations Surpass 16,000 Milestone

Solice Crypto: Can it Recover or Will it Decline Further?

Europeans stay bullish on crypto, new survey reveals

India Faces Uproar For Crypto Tax Cut Ahead Of Budget 2024

Injective (INJ) Volan Upgrade Sees Slump, Pushd (PUSHD) and TON Create Massive Interest

Join our free newsletter for daily crypto updates!