Chainlink

The <a href="https://www.newsbtc.com/chainlink-news/chainlink-price-stalls-as-287-million-worth-of-link-makes-its-way-to-binance/">Chainlink (LINK) price</a> has been on an impressive rally over the last week that has brought its price to new yearly highs. As LINK bulls continue to hold firmly above the $18 support, the emergence of this bullish rally has continued to signal that the price surge is far from over. 
<h2 class="p2" id="crypto-analyst-says-chainlink-bullish-flag-has-been-broken">Crypto Analyst Says Chainlink Bullish Flag Has Been Broken</h2> 
In an analysis <a href="https://www.tradingview.com/chart/LINKUSDT/jbl8HxFg-Link-is-Bullish-now-many-Traders-don-t-see-it/" rel="nofollow">posted</a> on the TradingView website, crypto analyst CobraVanguard explains why the <a href="https://www.newsbtc.com/chainlink-news/chainlink-price-stalls-as-287-million-worth-of-link-makes-its-way-to-binance/">Chainlink price</a> is currently very bullish. According to the analyst, despite the altcoin showing very bullish signs, a lot of traders are failing to realize that this is the case. 
They identified a flag pole that was created in the chart, and in this case, the flag for <a href="https://www.newsbtc.com/chainlink-news/chainlink-surges-12-18-link-set-retest-20-next/">the LINK price</a> was actually bullish. Even more interesting is the fact that the analyst revealed that the Chainlink price had successfully broken this flag, which they say is bullish for the price. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/i/jbl8HxFg/" alt="Chainklink price chart from Tradingview.com" width="2391" height="1225"> 
“LINKUSDT is in a Bullish flag Patter,” the analyst said. “We can expect a bullish movement as much as the Measured Price movement (flag pole) to happen!” This further solidifies <a href="https://www.newsbtc.com/news/chainlink/is-chainlink-link-ready-to-soar-key-indicators/">LINK’s entrance into its most bullish phase</a> so far in 2024. 
Another major factor that the analyst identifies for the <a href="https://www.newsbtc.com/news/chainlink/is-chainlink-link-ready-to-soar-key-indicators/">LINK price</a> at this level is that the price was testing the major supply zone at $18. At the time, the LINK price had not cleared this level. But at the time of writing, LINk has broken clean off this major supply zone and is now trending toward $19. “The Flag Is Broken,” the crypto analyst declared. 
<h2 class="p2" id="what-are-the-targets-for-the-link-price">What Are The Targets For The LINK Price?</h2> 
In the chart shared in the analysis, the crypto analyst identifies two major points of interest in the <a href="https://www.newsbtc.com/news/chainlink-price-surge-powers-altcoin-market-bulls-aim-for-20-target/">Chainlink chart</a> and these are the Supply Zone and the Target Price. The first, which is the Supply Zone, is at $18.3, and the LINK price has already broken above this level. 
Given this, the next major point of interest is the Target Price, and CobraVanguard puts this at the $27 price level. However, there is no straight shot toward this level as the analyst’s chart also shows a correction below the $13 support before rallying onto its target. 
If this analysis holds over the coming days/weeks, then the <a href="https://www.newsbtc.com/chainlink-news/chainlink-price-stalls-as-287-million-worth-of-link-makes-its-way-to-binance/">LINK price</a> could see a sharp 20% correction as the first sign. Then from there, a complete 100% move upward to bring the price to the $27 price target. 
At the time of writing, LINK bulls continue to show dominance after a sharp 7% move in the last day. On the broader chart, <a href="https://www.newsbtc.com/chainlink-news/chainlink-price-stalls-as-287-million-worth-of-link-makes-its-way-to-binance/">the LINK price</a> is up 27% in the last week, bringing its market cap to $10.9 billion. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/4AhO7Ny3/" alt="LINK price chart from Tradingview.com (LINK Crypto analyst)" width="3286" height="1530">

Chainlink (LINK) Price Breaks Out Of Bullish Flag Pole, Here’s The Next Target

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