2024

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Chainlink

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<ul>
 <li>Chainlink has exhibited significant volatility during recent cryptocurrency market downturns.</li>
 <li>Chainlink’s current rally is attributed to movement within a channel pattern, indicating potential for further upward movement.</li>
 <li>Technical indicators such as the 100-day EMA and MACD signal bullish momentum and support potential price increases for Chainlink.</li>
</ul>
Amidst cryptocurrency market fluctuations, Chainlink (LINK) demonstrates resilience and potential for growth as it adheres to a channel pattern, signaling bullish momentum and offering trading opportunities for investors.
As the market undergoes a resurgence, Chainlink’s value found solid footing, rebounding impressively from the $16.25 mark, offering a fresh avenue for traders to capitalize on. The surge in Chainlink’s price throughout 2024 can be attributed to its adherence to a channel pattern, delineated by twin trendlines.&nbsp;
Beginning from a yearly low of $12.2, this pattern propelled a robust 63% upswing over three months, culminating in the current price of $19.98. Notably, a recent bounce from the lower boundary on March 20th spurred a remarkable 22.8% surge within a mere week.
The sustained bullish momentum within this channel suggests a potential 16% ascent towards an upper trendline target of around $23.2. As long as this pattern remains intact, the trajectory of Chainlink’s recovery appears poised for extension.
Further examination of the weekly timeframe chart reveals a strong rebound path for <a href="https://coinmarketcap.com/currencies/chainlink/" rel="noopener noreferrer nofollow">Chainlink</a>, complemented by the emergence of a rounding bottom pattern. Fueled by this pattern, Chainlink may initiate a powerful surge toward the $38 milestone, indicating a notable surge in investor optimism.
Furthermore, key technical indicators offer additional insights into Chainlink’s upward trajectory. The 100-day EMA slope serves as a reliable support for buyers during market downturns, while a bullish crossover between the MACD and signal line underscores a gradual resurgence in buying momentum.
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The post <a href="https://cryptonewsland.com/chainlink-bulls-ride-recovery-wave-eyes-set-on-38-target/" rel="noopener noreferrer nofollow">Chainlink Bulls Ride Recovery Wave, Eyes Set on $38 Target</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Chainlink Bulls Ride Recovery Wave, Eyes Set on $38 Target

Crypto News Land

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