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Chainlink

<p>Chainlink (LINK), a leading decentralized oracle network, remains in an uptrend according to technical analysis from altFins. Despite mixed signals from momentum indicators, analysts are bullish on LINK’s potential, with some forecasting a 95% chance of further price appreciation in the next six months. As a crucial provider of data to smart contracts, Chainlink is set to benefit from the growing trend of tokenizing real-world assets (RWAs).</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-trade-setup-strong"><strong>Technical Analysis and Trade Setup</strong></h2>
<p>According to altFins, Chainlink’s price continues to bounce along the long-term trendline, signaling an ongoing uptrend. The analysis suggests an upside potential to $22.00, with a mid-term target of $25 if the $22 resistance is broken. However, a stop-loss is recommended at $16.20 to manage risk.</p>
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<p><em>Source: </em><a href="https://captainaltcoin.com/go/altfins/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>altFINS – Start using it today</em></strong></a></p>
<p>Previously, after consolidating in a sideways channel between $13 and $17 for three months, LINK broke out from the channel, indicating a continuation of the uptrend. altFins had identified Chainlink as a research coin pick, and the asset has rallied 150% since their initiation report in August 2023.</p>
<p>altFins classifies the short- and medium-term trends as neutral, while the long-term trend remains an uptrend. Momentum signals are mixed, with the MACD line above the MACD signal line (bullish), but the RSI hovering around 50 (neutral).</p>
<p>The nearest support zone for Chainlink is identified at $17.00 (previous resistance) and $13.00. On the resistance side, the nearest zones are $20.00 and $22.00.</p>
<h2 class="wp-block-heading" id="strong-bullish-forecast-from-upside-down-crypto-data-strong"><strong>Bullish Forecast from Upside-Down Crypto Data</strong></h2>
<p>Upside-Down Crypto Data, a cryptocurrency data analysis firm, <a href="https://x.com/upsidedowndata/status/1773148293549130035?s=20" target="_blank" rel="noopener noreferrer nofollow">expressed</a> a bullish outlook on Chainlink. Their forecast model estimates a 95% chance that LINK’s price will be higher than its current level six months from now, suggesting that the asset’s upward trajectory is “just a matter of time.”</p>
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<h2 class="wp-block-heading" id="strong-price-and-market-sentiment-strong"><strong>Price and Market Sentiment</strong></h2>
<p>According to data from CoinGecko at the time of writing, the price of Chainlink (LINK) is <a href="https://www.coingecko.com/en/coins/chainlink" target="_blank" rel="noopener noreferrer nofollow">$19.18</a>, representing a 1.17% decline in the last 24 hours but an 8.56% increase over the past seven days. Despite some negative sentiment surrounding LINK, analysts remain optimistic about its future performance.</p>
<p>As Chainlink continues its uptrend, analysts and forecasters are expressing bullish sentiments based on technical analysis and the project’s position in the growing tokenization of real-world assets. While momentum signals are mixed, the long-term trend remains upward, suggesting potential for further price appreciation in the coming months.</p>
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<p>The post <a href="https://captainaltcoin.com/chainlink-continues-uptrend-with-bullish-forecasts-and-mixed-signals-amid-rwas-expansion-how-high-can-link-go/" rel="noopener noreferrer nofollow">Chainlink Continues Uptrend with Bullish Forecasts and Mixed Signals Amid RWAs Expansion: How High Can LINK Go?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Chainlink Continues Uptrend with Bullish Forecasts and Mixed Signals Amid RWAs Expansion: How High Can LINK Go?

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