bullish

Spike

Show

Chainlink

Reversal

<p>Analyst Crypto Winkle has shared insights into <a href="https://captainaltcoin.com/these-chainlink-link-indicators-signal-potential-price-rally/" target="_blank" rel="noopener noreferrer nofollow">Chainlink’s (LINK)</a> current chart, highlighting a potential bullish breakout driven by a classic falling wedge pattern. The setup suggests that LINK could see substantial upward movement, with the expert noting several key price targets.&nbsp;</p>
<p>LINK is presently<a href="https://www.coingecko.com/en/coins/chainlink" target="_blank" rel="noopener noreferrer nofollow"> trading around $10.63</a>, and if it breaks out of this wedge, the price may soon challenge these higher resistance levels.</p>
<h2 class="wp-block-heading" id="strong-link-s-falling-wedge-pattern-points-to-potential-breakout-strong"><strong>LINK’s Falling Wedge Pattern Points to Potential Breakout</strong></h2>
<p>The main feature on Chainlink’s current chart is a falling wedge, defined by two descending trendlines converging over time. Such patterns are generally considered bullish, often signaling a reversal in price once the breakout occurs.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/chainlink?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@chainlink</a> is setting up for a breakout with a classic falling wedge pattern! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Once this wedge breaks up expecting fireworks to $17, $19, and possibly $23! Major resistance zones mapped at $22-24 – this could be the last time to grab <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LINK</a> under $11.<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/LINKUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#LINKUSDT</a>… <a href="https://t.co/lW6tqzmU4e" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/lW6tqzmU4e</a></p>— Crypto Winkle (@CryptoWinkle) <a href="https://twitter.com/CryptoWinkle/status/1853374551259836755?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>LINK has been moving within this wedge since mid-2024, and it appears to be nearing the lower boundary of the pattern, which may serve as a support zone.</p>
<p>Crypto Winkle noted that the lower boundary, around the $8 to $9 range, has historically acted as a support level, providing a foundation for price rebounds. If LINK continues this pattern, a breakout from the upper wedge line could lead to higher price targets, setting the <a href="https://www.crypto-news-flash.com/chainlink-ecosystem-milestones-6-5b-usd-tvl-secured-ccip-adoption-grows-with-expanded-integrations-across-multiple-chains/" target="_blank" rel="noopener noreferrer nofollow">stage for a potential rally</a>.</p>
<h2 class="wp-block-heading" id="strong-key-resistance-levels-mapped-strong"><strong>Key Resistance Levels Mapped</strong></h2>
<p>According to the analysis, LINK faces several resistance zones if it breaks out upward. The first major resistance levels lie at $17 and $19, marking previous areas of interest where price movements have previously hesitated.&nbsp;</p>
<p>The tweet from Crypto Winkle also identifies a broader resistance range between $22 and $24, which is highlighted as a significant area to watch. These levels are expected to be crucial checkpoints on LINK’s projected path, marking potential halts in the upward momentum as it navigates through buyer and seller pressures.</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">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </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><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</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>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/dogecoin-doge-could-spike-to-1-if-trump-wins-the-election-heres-why/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Dogecoin (DOGE) Could Spike to $1 If Trump Wins the Election: Here’s Why</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-indicators-show-potential-reversal-of-bearish-momentum-strong"><strong>Indicators Show Potential Reversal of Bearish Momentum</strong></h2>
<p>Technical indicators add weight to the potential for a bullish reversal. The RSI hovers around 42.36, slightly above oversold territory. This position indicates that the selling pressure may be weakening, creating room for a possible price reversal.&nbsp;</p>
<p>Additionally, the MACD is close to a crossover point, with the MACD line sitting slightly below the signal line. A bullish crossover could signal an upward momentum shift if LINK breaks out of its wedge pattern.</p>
<p>A possible breakout trajectory suggests LINK could reach $17 and $19 before testing the resistance range at $22 to $24. Crypto Winkle’s tweet expresses optimism about LINK’s upward path, stating that this could be “the last time to grab LINK under $11.”&nbsp;</p>
<p>Based on the falling wedge setup, support and resistance zones, and indicator positioning, LINK appears poised for a rally if it breaches the wedge’s upper boundary.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</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/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" 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-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </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/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/chainlink-pattern-signals-bullish-rally-analyst-maps-path-to-these-link-price-targets/" rel="noopener noreferrer nofollow">Chainlink Pattern Signals Bullish Rally: Analyst Maps Path to These LINK Price Targets</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Chainlink Pattern Signals Bullish Rally: Analyst Maps Path to These LINK Price Targets

Table of Contents

CaptainAltcoin

Other articles published on Nov 5, 2024

Attention Cryptocurrency Users: Virus-Proof OS Targeted, Cryptocurrencies Can Be Stolen in 10 Sec...

Palantir’s Revenue Jumps 30% in Q3, Boosting Stock by Over 22%

Taiwan’s FSC to Enforce Stricter Regulations on Crypto Exchanges in 2025

Fidelity and Ark Lead $541M Outflow in US Bitcoin ETF Market

Can Terra Luna Classic’s Massive Token Burn Push LUNC to $1?

Top 10 Altcoins Set to Explode in 2025 Bull Run | Jupiter, Hedera, Polygon & More

Join our free newsletter for daily crypto updates!