Show

Chainlink

Coin

<p>Chainlink (LINK), the decentralized oracle network, finds itself in a critical juncture as it grapples with a potential bullish reversal, according to crypto analyst Daan Crypto Trades. In a <a href="https://x.com/DaanCrypto/status/1778000721419362484" target="_blank" rel="noopener noreferrer nofollow">tweet</a>, the analyst shared a chart highlighting Chainlink’s price action and the pivotal levels that could dictate its future trajectory.</p>
<h2 class="wp-block-heading" id="strong-the-descending-trendline-and-support-zone-strong"><strong>The Descending Trendline and Support Zone</strong></h2>
<p>Daan Crypto Trades’ analysis centers around a descending trendline, drawn by connecting the lower highs of Chainlink’s price action. “A descending trendline is drawn connecting the lower highs of the price action,” the analyst explained. “This line indicates a downtrend, as each peak in price is lower than the previous one.”</p>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="612" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-1024x612.png" alt="" class="wp-image-472116" style="width: 100%;height:auto" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-1024x612.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-300x179.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-768x459.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-1536x918.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-2048x1225.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-251x150.png 251w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-100x60.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-585x350.png 585w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501-788x471.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-501.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>However, the analyst also identified a crucial support zone between $15.00 and $15.50. “The green box indicates a support zone, a price level where the asset has previously experienced buying interest, preventing the price from falling further,” Daan Crypto Trades elaborated.</p>
<h2 class="wp-block-heading" id="strong-the-potential-falling-wedge-pattern-strong"><strong>The Potential Falling Wedge Pattern</strong></h2>
<p>Significantly, the combination of the descending trendline and the support zone appears to form a bullish falling wedge pattern. “The combination of the descending trendline (yellow line) and the support zone (green box) seems to be forming what technical analysts might interpret as a falling wedge pattern,” the analyst noted.</p>
<p>Moreover, falling wedge patterns are often considered bullish signals, indicating a potential reversal of the current downtrend if the price breaks out above the trendline. Furthermore, as Daan Crypto Trades stated, “This pattern is often considered bullish and can indicate a potential reversal of the current downtrend if the price breaks out above the trendline.”</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-the-crucial-breakout-level-strong"><strong>The Crucial Breakout Level</strong></h2>
<p>To confirm a potential bullish reversal, Daan Crypto Trades is closely monitoring the yellow diagonal trendline. “Would like to see this break the yellow diagonal to confirm a potential next leg up,” the analyst remarked.</p>
<p>Consequently, if Chainlink can muster enough buying pressure to break above the descending trendline, it could potentially mark the beginning of a new uptrend.</p>
<h2 class="wp-block-heading" id="strong-current-chainlink-price-strong"><strong>Current Chainlink Price</strong></h2>
<p>According to the latest data from CoinGecko, the price of Chainlink (LINK) is <a href="https://www.coingecko.com/en/coins/chainlink" target="_blank" rel="noopener noreferrer nofollow">$17.11</a>, representing a -2.96% price decline in the last 24 hours. However, the chart shared by Daan Crypto Trades shows the most recent price as $17.382, with a small positive change indicated by “+0.025.”</p>
<p>As the crypto market watches LINK’s price action, the potential breakout above the descending trendline could prove pivotal in determining the oracle network’s trajectory. With the support zone holding firm, bulls await a move to confirm the potential bullish reversal.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/chainlink-at-a-crossroads-will-links-bullish-falling-wedge-lead-to-a-breakout-key-metrics-to-watch/" rel="noopener noreferrer nofollow">Chainlink at a Crossroads: Will LINK’s Bullish Falling Wedge Lead to a Breakout? Key Metrics to Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Chainlink at a Crossroads: Will LINK’s Bullish Falling Wedge Lead to a Breakout? Key Metrics to Watch

목차

CaptainAltcoin

2024년 4월 10일에 게재된 다른 기사

Myro, Raboo, and MOG coin set for billion-dollar market cap

Elon Musk's Steve Jobs Tweet Gains Him Extra Support From Crypto Community

BNB, SOL, XRP, ADA, DOGE, SHIB Price Analysis: April 10

ALGT Surges 200% in weeks, Memecoin community joins in with DOGE and SHIB investors leading the pack

Global Blockchain Show and Token2049: Unforgettable Experiences Await

Grayscale CEO shares update on its Bitcoin ETF outflows

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!