bullish

Chainlink

<p>In the ongoing struggling cryptocurrency market, a prominent crypto expert shares a bullish outlook for Chainlink (LINK) and suggests that LINK could soon skyrocket in the coming days.</p>  
<h2 class="wp-block-heading" id="h-chainlink-link-price-prediction-nbsp"><strong>Chainlink (LINK) Price Prediction&nbsp;</strong></h2>  
<p>In a post on X (Previously Twitter), the <a href="https://x.com/CryptoMichNL/status/1849896209055613229" target="_blank" rel="noopener noreferrer nofollow">expert</a> noted that LINK could break out from the ascending triangle in the next 1 to 2 weeks. Additionally, he further noted that LINK has the potential to reach $18 if the breakout successfully occurs.</p>  
<h2 class="wp-block-heading" id="h-link-technical-analysis-and-upcoming-level"><strong>LINK Technical Analysis and Upcoming Level</strong></h2>  
<p>According to expert technical analysis, LINK has been forming an ascending triangle price action pattern since the beginning of August 2024, and now the price is moving slowly within a narrow range. However, looking at the LINK daily chart, it appears that the asset needs more time for the maturation of this pattern.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/10/27023207/LINKUSDT_2024-10-27_02-31-52.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/27023207/LINKUSDT_2024-10-27_02-31-52-1024x448.png" alt="" class="wp-image-372928"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>Despite this, if LINK breaks this resistance level or the neckline of the ascending triangle and closes a daily candle above $13, there is a strong possibility it could soar by 15% to reach the $15.5 level initially, and later $18 if the sentiment remains unchanged.</p>  
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>  
<p>As of now, LINK is trading near $11.07 and has experienced a price surge of over 4.5% in the past 24 hours. During the same period, its trading volume rose by 5%, suggesting growing participation from investors and traders compared to the previous days.</p>  
<p>Despite this bullish outlook, <a href="https://coinpedia.org/price-analysis/chainlink-price-prediction-link-marines-prepared-for-a-25-upswing-to-end-the-monthly-trade/" rel="noopener noreferrer nofollow">LINK</a> has been struggling to gain momentum for the past few days, and this struggle will continue until it breaches the $13 level.</p>  
<h3 class="wp-block-heading" id="h-major-liquidation-levels"><strong>Major Liquidation Levels</strong></h3>  
<p>As of now, the major liquidation levels are at $10.66 on the lower side and $11.42 on the upper side, with traders over-leveraged at these levels, according to the on-chain analytics firm Coinglass.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/10/27023247/image-104-272.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/27023247/image-104-272-1024x438.png" alt="" class="wp-image-372929"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>  
<p>If this sentiment shifts and the price rises to the $11.42 level, nearly $4.62 million worth of short positions will be liquidated. Conversely, if the sentiment remains unchanged and the price drops to the $10.66 level, approximately $2.61 million worth of long positions will be liquidated.&nbsp;</p>  
<p>This liquidation data shows that bears are currently dominating the asset, which may pose challenges for bulls attempting to experience an upside rally.</p>

Chainlink (LINK) Breakout Imminent? Expert Insights

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