Based

2024

Chainlink

<div class="watcher-guru">
 <p>Chainlink (LINK), one of the most widely used decentralized oracle networks, has established a remarkably bullish setup that could propel prices as high as $20, according to a recent analysis.</p>
 <p>Despite the broader market weakness, LINK has rallied 16% over the last six sessions while continuing to print successive highs and lows. Now, with LINK appearing to have hit a tipping point, analysts weigh the evidence suggesting a major breakout could be imminent.</p>
 <p>Coinpedia points to the formation of an ascending channel pattern on LINK’s daily price chart that typically precedes powerful upside moves upon breakout. This indicates substantial pent-up buying momentum could soon be unleashed from LINK’s multi-week consolidation between roughly $11 support and $15 resistance.</p>
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 <p><strong>Also read: Cryptocurrency: 5 Coins To Watch in February 2024 To Generate Profits</strong></p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="381" src="https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp" alt class="wp-image-126919" srcset="https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 1024w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 300w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 768w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 1536w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 380w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 550w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 800w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 1160w, https://cdn.thebittimes.com/images/2024/02/02/cde1718debbea1e2d69d2da62ae5cd56.webp 1721w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <h2 class="wp-block-heading" id="h-can-link-surge-to-20">Can LINK surge to $20?</h2>
 <p>Breakout confidence stems from strong trading volumes backing <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a>’s recent advance. Volume often precedes price, serving as a barometer of investor interest. With demand on the rise as <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> challenges resistance, the stage looks set for an upside resolution of the channel.</p>
 <p>A decisive breakout could spark a rally toward the next ceiling of around $20 based on the measured move method used in technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>.</p>
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 <p>Beyond the bullish technical alignment, Chainlink continues to gain traction across numerous fundamental metrics. The project expanded integrations with leading platforms like Protocol Labs while drawing high-profile buyers. These include a whale scooping nearly $8 million worth of LINK tokens earlier this month.</p>
 <p><strong>Also read: XRP: 3 Key Warning Signs For Investors</strong></p>
 <p>Such strong adoption and accumulation by institutional players foreshadow further valuation upside. This is especially given Chain<a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a>’s leading position as the oracle network of choice for powering real-world data feeds across nearly 1,000 decentralized applications.</p>
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 <p>Based on its entrenched positioning along with strengthening on-chain and developmental activity, analysts predict <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a>’s price could double from current levels of around $16 to $100 within the next three years.</p>
 <p>Of course, technical failures remain possible if <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> stumbles at resistance again. In that scenario, some retracement towards the lower $14.50 range could materialize before bulls gear up for another breakout attempt.&nbsp;</p>
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<div class="cs-entry__tags">
 <ul>
  <li>chainlink</li>
  <li>LINK</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/chainlink-eyes-potential-breakout-link-could-hit-20-tbt78590.html">https://thebittimes.com/chainlink-eyes-potential-breakout-link-could-hit-20-tbt78590.html</a></p>

Chainlink Eyes Potential Breakout, LINK Could Hit $20

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