Ethereum

Resistance

Chainlink

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-link-sees-promising-price-movement/" data-wpel-link="internal">Chainlink (LINK) Sees Promising Price Movement</a><br></p>
<p style="text-align: justify">At a stage where <a href="https://en.coin-turk.com/bitcoins-performance-throughout-the-year/" data-wpel-link="internal">Bitcoin</a>, the flagship of cryptocurrencies, is experiencing a rapid increase, altcoins are also trying to keep up with BTC. Bitcoin’s market dominance has surpassed the 54% level today. This situation indicates that BTC has gained significant value against altcoins. Since Ethereum has just surpassed the $3,600 level, a rise for other altcoins is expected. One of these altcoins is the leading oracle network <a href="https://en.coin-turk.com/chainlink-continues-its-six-month-ascend-in-the-crypto-market/" data-wpel-link="internal">Chainlink</a> (<a href="https://en.coin-turk.com/chainlinks-rally-continues-whats-next-for-this-altcoin/" data-wpel-link="internal">LINK</a>).</p> 
<h2 style="text-align: justify" id="weekly-outlook-for-altcoin-chainlink-link">Weekly Outlook for Altcoin Chainlink (LINK)</h2> 
<p style="text-align: justify">The price of altcoin Chainlink (LINK) has rebounded from a previous significant resistance and formed an uptrend formation. It is expected to continue its upward trend in the near future. The Chainlink (LINK) price has risen above the long-term resistance level of $18 and confirmed it as support last week.</p> 
<p style="text-align: justify">The bounce created an engulfing bullish formation. This development is a bullish signal indicating that bulls are aggressively buying during small dips.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-322970 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/chainlink-link-coin-turk-com-.jpg" alt="" width="1260" height="564"></p> 
<p style="text-align: justify">The weekly Relative Strength Index (RSI) has confirmed the previous bearish divergence line as support and is showing an upward trend, supporting the potential for further gains.</p> 
<p style="text-align: justify">Therefore, the altcoin LINK price could potentially rise to the next significant horizontal resistance at $28. This figure corresponds to an increase of 35.61% from the current price.</p> 
<h2 style="text-align: justify" id="moving-above-short-term-resistance-line">Moving Above Short-Term Resistance Line</h2> 
<p style="text-align: justify">The altcoin LINK price has moved above the short-term resistance line and confirmed it as support yesterday. This suggests that the short-term correction may have ended and the LINK price could have initiated another upward movement.</p> 
<p style="text-align: justify">Since the price broke the short-term resistance line, the 4-hour RSI has been above the 50 level, indicating that bulls are in control of the market.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-322971 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/link-coin-turk-com-.jpg" alt="" width="1262" height="551"></p> 
<p style="text-align: justify">Therefore, the cryptocurrency LINK price could rise to the nearest horizontal resistance at $22.6 in the next few days. The most likely expectation is that the LINK price will continue to rise in the coming days. The immediate target is $22.6, with a higher target at the $28 level.</p> 
<p style="text-align: justify">This bullish outlook will be invalidated if the cryptocurrency LINK price falls below and closes under the $18 region on the weekly timeframe. At the time of writing, we see that the cryptocurrency Chainlink (LINK) is trading at a price of $20.47.</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-sees-promising-price-movement/" data-wpel-link="internal">Chainlink (LINK) Sees Promising Price Movement</a></h5>

Chainlink (LINK) Sees Promising Price Movement

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