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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlinks-rally-reaches-new-heights-with-price-surge" rel="noopener noreferrer nofollow">Chainlink’s Rally Reaches New Heights with Price Surge</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/chainlinks-link-token-gains-impetus-with-significant-movement-and-price-hike" rel="noopener noreferrer nofollow">Chainlink</a>‘s (LINK) value has soared over the last fortnight, escalating to a peak of $19.75, the highest figure recorded since the previous year. The cryptocurrency has notably surged past a three-month dormant price range. With this breakout, speculations arise regarding the sustainability of LINK’s growth, supported by comprehensive chart analyses and forecasts.</p>
<h2 id="insights-from-weekly-chart-movements">Insights from Weekly Chart Movements</h2>
<p style="text-align: justify">Observations of LINK’s weekly chart unveil a sharp uptrend commencing from June 2023, which hit a plateau in November within a significant horizontal zone, marking an 85-day consolidation phase. The recent breakout has propelled LINK’s price to a two-year zenith of $19.75. The Relative Strength Index (RSI) suggests that while bullish momentum prevails with the index above 50, there’s a risk of an impending bearish divergence hinting at a potential reversal, as the RSI trends towards the overbought territory.</p>
<h2 id="daily-chart-predictions-for-link-s-trajectory">Daily Chart Predictions for LINK’s Trajectory</h2>
<p style="text-align: justify">The daily chart analysis, informed by Elliott Wave theory, postulates that LINK’s upward trajectory is part of its final wave, with the current phase residing in the third sub-wave of this ascent. Targets for the culmination of LINK’s rise hover around $24.85 and $28.70, calculated through specific wave proportions and Fibonacci retracement levels. Attaining these targets would necessitate LINK’s value to climb an additional 30% to 50%.</p>
<p style="text-align: justify">Despite the optimistic projections for LINK’s value, a fallback below the pinnacle of its first sub-wave at $16.60 could negate the bullish scenario, possibly triggering a 35% decline to the next support level near $12.80.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlinks-rally-reaches-new-heights-with-price-surge" rel="noopener noreferrer nofollow">Chainlink’s Rally Reaches New Heights with Price Surge</a></h5>

Chainlink’s Rally Reaches New Heights with Price Surge

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